Voloridge Investment Management LLC Has $13.19 Million Stock Holdings in RLI Corp. (NYSE:RLI)

Voloridge Investment Management LLC lessened its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 20.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,014 shares of the insurance provider's stock after selling 21,178 shares during the quarter. Voloridge Investment Management LLC owned 0.09% of RLI worth $13,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RLI. Everhart Financial Group Inc. increased its holdings in RLI by 10.0% in the fourth quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider's stock valued at $269,000 after buying an additional 148 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of RLI by 47.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after purchasing an additional 159 shares during the last quarter. Atomi Financial Group Inc. grew its holdings in shares of RLI by 9.5% during the fourth quarter. Atomi Financial Group Inc. now owns 1,875 shares of the insurance provider's stock valued at $309,000 after purchasing an additional 162 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of RLI during the fourth quarter valued at approximately $31,000. Finally, Alpha DNA Investment Management LLC grew its holdings in shares of RLI by 7.8% during the fourth quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider's stock valued at $432,000 after purchasing an additional 189 shares during the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

RLI Price Performance

RLI traded up $0.16 during trading on Thursday, reaching $75.66. The stock had a trading volume of 37,319 shares, compared to its average volume of 365,613. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 20.19 and a beta of 0.72. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. RLI Corp. has a 1-year low of $68.50 and a 1-year high of $91.15. The stock has a 50 day moving average of $76.00 and a two-hundred day moving average of $78.51.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. RLI had a return on equity of 16.63% and a net margin of 19.53%. The company had revenue of $36.73 million during the quarter, compared to the consensus estimate of $442.20 million. During the same quarter in the prior year, the firm earned $0.95 EPS. The company's quarterly revenue was down 8.3% compared to the same quarter last year. As a group, equities analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 30th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, May 30th. This is an increase from RLI's previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.85%. RLI's dividend payout ratio is 21.05%.

Insider Buying and Selling

In other RLI news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $74.89, for a total transaction of $214,484.96. Following the completion of the transaction, the director now owns 23,312 shares in the company, valued at $1,745,835.68. This trade represents a 10.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jordan W. Graham sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $74.77, for a total transaction of $112,155.00. Following the sale, the director now directly owns 12,854 shares of the company's stock, valued at approximately $961,093.58. The trade was a 10.45% decrease in their position. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RLI shares. Keefe, Bruyette & Woods lowered their target price on RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Compass Point downgraded RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, JMP Securities reiterated a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $78.60.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.