Jump Financial LLC Has $1.43 Million Stake in RLI Corp. (NYSE:RLI)

Jump Financial LLC lessened its holdings in shares of RLI Corp. (NYSE:RLI - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,675 shares of the insurance provider's stock after selling 3,465 shares during the quarter. Jump Financial LLC's holdings in RLI were worth $1,430,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of RLI during the 4th quarter valued at about $31,000. Versant Capital Management Inc grew its holdings in RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 71 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of RLI during the fourth quarter valued at about $56,000. EverSource Wealth Advisors LLC boosted its holdings in RLI by 47.0% in 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. Finally, Harvest Fund Management Co. Ltd acquired a new stake in RLI during the 4th quarter valued at approximately $120,000. 77.89% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Jordan W. Graham sold 1,500 shares of RLI stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $74.89, for a total value of $214,484.96. Following the completion of the transaction, the director now directly owns 23,312 shares in the company, valued at approximately $1,745,835.68. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.16% of the company's stock.

RLI Trading Down 3.3 %

Shares of RLI stock traded down $2.49 on Friday, reaching $72.74. 205,834 shares of the company were exchanged, compared to its average volume of 500,939. RLI Corp. has a fifty-two week low of $68.50 and a fifty-two week high of $91.14. The stock has a fifty day moving average price of $76.45 and a 200-day moving average price of $79.39. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 19.42 and a beta of 0.49.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The business had revenue of $36.73 million during the quarter, compared to analyst estimates of $442.20 million. RLI had a return on equity of 16.63% and a net margin of 19.53%. On average, analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.82%. This is a boost from RLI's previous quarterly dividend of $0.15. RLI's dividend payout ratio is presently 16.00%.

Analyst Ratings Changes

Several analysts have issued reports on RLI shares. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a report on Thursday. StockNews.com upgraded shares of RLI from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Compass Point reissued a "neutral" rating and set a $76.00 target price (down from $82.00) on shares of RLI in a research note on Thursday. Royal Bank of Canada dropped their price target on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a research note on Friday, January 24th. Finally, Jefferies Financial Group downgraded RLI from a "buy" rating to an "underperform" rating and reduced their price objective for the stock from $95.00 to $61.00 in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, RLI has a consensus rating of "Hold" and an average price target 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.