Price T Rowe Associates Inc. MD Has $34.07 Million Position in RLI Corp. (NYSE:RLI)

Price T Rowe Associates Inc. MD cut its stake in RLI Corp. (NYSE:RLI - Free Report) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,699 shares of the insurance provider's stock after selling 28,716 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.23% of RLI worth $34,072,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new position in shares of RLI during the 4th quarter valued at $31,000. Versant Capital Management Inc boosted its stake in RLI by 53.8% during the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider's stock valued at $33,000 after buying an additional 71 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in RLI during the fourth quarter worth about $56,000. EverSource Wealth Advisors LLC lifted its holdings in RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after acquiring an additional 159 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of RLI during the 4th quarter valued at about $120,000. Institutional investors and hedge funds own 77.89% of the company's stock.

Insider Activity at RLI

In other RLI news, Director Jordan W. Graham sold 1,500 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $74.77, for a total value of $112,155.00. Following the sale, the director now directly owns 12,854 shares in the company, valued at $961,093.58. This represents a 10.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of RLI stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $74.89, for a total value 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 ownership of the stock. 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 firms recently commented on RLI. JMP Securities reissued a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. Keefe, Bruyette & Woods cut their price objective on RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. StockNews.com lowered RLI from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Compass Point lowered RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Finally, Royal Bank of Canada decreased their price target on RLI from $88.00 to $80.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, RLI presently has an average rating of "Hold" and a consensus price target of $78.60.

RLI Stock Down 0.0 %

Shares of NYSE:RLI traded down $0.01 during trading on Tuesday, reaching $74.37. 18,511 shares of the company traded hands, compared to its average volume of 362,537. The firm has a fifty day simple moving average of $76.29 and a 200 day simple moving average of $79.11. 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 firm has a market cap of $6.83 billion, a P/E ratio of 19.86 and a beta of 0.49.

RLI (NYSE:RLI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. RLI had a net margin of 19.53% and a return on equity of 16.63%. The firm had revenue of $36.73 million for the quarter, compared to the consensus estimate of $442.20 million. During the same period in the prior year, the business posted $0.95 earnings per share. The business's quarterly revenue was down 8.3% on a year-over-year basis. Analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 0.81%. This is a positive change from RLI's previous quarterly dividend of $0.15. RLI's payout ratio is 19.74%.

About RLI

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.