Jennifer L. Klobnak Buys 3,000 Shares of RLI Corp. (NYSE:RLI) Stock

RLI Corp. (NYSE:RLI - Get Free Report) COO Jennifer L. Klobnak bought 3,000 shares of RLI stock in a transaction dated Thursday, July 24th. The stock was acquired at an average cost of $69.15 per share, with a total value of $207,450.00. Following the completion of the acquisition, the chief operating officer owned 98,450 shares of the company's stock, valued at $6,807,817.50. This represents a 3.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

RLI Stock Performance

Shares of RLI stock traded down $1.34 during trading on Thursday, hitting $67.84. 2,287,588 shares of the company's stock traded hands, compared to its average volume of 504,620. The stock has a market capitalization of $6.23 billion, a P/E ratio of 19.44 and a beta of 0.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.34 and a quick ratio of 0.35. The business has a 50-day simple moving average of $72.92 and a 200-day simple moving average of $74.86. RLI Corp. has a 1 year low of $67.12 and a 1 year high of $91.14.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The insurance provider reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. The business had revenue of $562.28 million during the quarter, compared to analysts' expectations of $445.55 million. RLI had a return on equity of 15.82% and a net margin of 17.81%. The business's quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.72 earnings per share. As a group, analysts forecast that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 30th were issued a $0.16 dividend. 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 yield of 0.94%. The ex-dividend date was Friday, May 30th. RLI's payout ratio is currently 18.34%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RLI shares. Compass Point cut shares of RLI from a "strong-buy" rating to a "hold" rating in a 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. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods decreased their target price 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 assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, RLI presently has an average rating of "Hold" and an average price target of $78.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its position in shares of RLI by 100.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 19,526 shares of the insurance provider's stock worth $1,569,000 after purchasing an additional 9,763 shares during the period. New York State Teachers Retirement System boosted its position in RLI by 99.6% in the first quarter. New York State Teachers Retirement System now owns 112,616 shares of the insurance provider's stock valued at $9,046,000 after buying an additional 56,208 shares during the last quarter. Brown Advisory Inc. increased its holdings in RLI by 100.0% in the 1st quarter. Brown Advisory Inc. now owns 13,224 shares of the insurance provider's stock worth $1,062,000 after buying an additional 6,612 shares during the period. Golden State Wealth Management LLC raised its position in RLI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock worth $30,000 after buying an additional 186 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in RLI by 112.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,871 shares of the insurance provider's stock valued at $311,000 after acquiring an additional 2,047 shares during the period. 77.89% of the stock is currently owned by institutional investors.

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.

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