RLI Corp. (NYSE:RLI) Shares Purchased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lifted its holdings in shares of RLI Corp. (NYSE:RLI - Free Report) by 50.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,702 shares of the insurance provider's stock after buying an additional 7,323 shares during the period. Ensign Peak Advisors Inc's holdings in RLI were worth $3,577,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RLI. Golden State Wealth Management LLC purchased a new position in RLI in the fourth quarter worth $31,000. SBI Securities Co. Ltd. acquired a new position in shares of RLI during the 4th quarter worth $56,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 159 shares in the last quarter. Quarry LP acquired a new stake in shares of RLI in the fourth quarter valued at about $108,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in RLI during the fourth quarter worth about $120,000. 77.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RLI. Jefferies Financial Group cut shares of RLI from a "buy" rating to an "underperform" rating and dropped their target price for the company from $95.00 to $61.00 in a report on Monday, January 27th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. Compass Point cut RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. StockNews.com raised RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods dropped their price target on RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, RLI presently has an average rating of "Hold" and an average target price of $78.60.

RLI Trading Down 0.0%

NYSE:RLI traded down $0.01 on Tuesday, reaching $76.15. The stock had a trading volume of 68,325 shares, compared to its average volume of 362,265. RLI Corp. has a 12-month low of $68.50 and a 12-month high of $91.15. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 20.34 and a beta of 0.72. The firm's fifty day moving average is $76.12 and its two-hundred day moving average is $78.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38.

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

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 30th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.84%. This is a positive change from RLI's previous quarterly dividend of $0.15. The ex-dividend date is Friday, May 30th. RLI's dividend payout ratio (DPR) is presently 21.05%.

Insider Buying and Selling at RLI

In related news, Director Jordan W. Graham sold 1,500 shares of the 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 transaction, the director now directly owns 12,854 shares of the company's stock, valued at approximately $961,093.58. This trade represents a 10.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the transaction, the director now owns 23,312 shares in the company, valued at $1,745,835.68. The trade was a 10.94% decrease in their position. The disclosure for this sale can be found here. 2.16% of the stock is owned by company insiders.

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.