RLI Corp. (NYSE:RLI) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC trimmed its position in RLI Corp. (NYSE:RLI - Free Report) by 20.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,014 shares of the insurance provider's stock after selling 21,178 shares during the period. Voloridge Investment Management LLC owned approximately 0.09% of RLI worth $13,189,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RLI. Norges Bank acquired a new position in shares of RLI during the fourth quarter worth about $80,476,000. Wellington Management Group LLP boosted its holdings in RLI by 580.4% in the 4th quarter. Wellington Management Group LLP now owns 415,247 shares of the insurance provider's stock valued at $68,445,000 after purchasing an additional 354,219 shares in the last quarter. Nepsis Inc. increased its position in RLI by 138.8% during the 4th quarter. Nepsis Inc. now owns 296,526 shares of the insurance provider's stock worth $48,876,000 after purchasing an additional 172,370 shares during the period. Geode Capital Management LLC raised its stake in shares of RLI by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 1,024,518 shares of the insurance provider's stock worth $168,907,000 after buying an additional 116,088 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of RLI in the 4th quarter valued at approximately $17,854,000. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Price Performance

RLI stock traded down $0.49 on Wednesday, reaching $75.43. The company had a trading volume of 304,305 shares, compared to its average volume of 366,533. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. RLI Corp. has a 1 year low of $68.50 and a 1 year high of $91.15. The company's fifty day moving average is $76.02 and its 200 day moving average is $78.53. The company has a market cap of $6.92 billion, a P/E ratio of 20.14 and a beta of 0.72.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $442.20 million. During the same quarter in the prior year, the company posted $0.95 EPS. The business's revenue for the quarter was down 8.3% compared to the same quarter last year. On average, research analysts forecast that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

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

Insider Buying and Selling

In related news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $74.89, for a total transaction of $214,484.96. Following the transaction, the director now directly owns 23,312 shares of the company's stock, valued at approximately $1,745,835.68. The trade was a 10.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jordan W. Graham sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $74.77, for a total transaction of $112,155.00. Following the completion of the sale, the director now directly owns 12,854 shares of the company's stock, valued at $961,093.58. This trade represents a 10.45% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JMP Securities reiterated a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. Compass Point cut shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods decreased their price target on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $78.60.

RLI 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.