RLI Corp. (NYSE:RLI) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC lifted its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 40.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,564 shares of the insurance provider's stock after acquiring an additional 19,565 shares during the quarter. Gotham Asset Management LLC owned about 0.07% of RLI worth $11,137,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RLI. Charles Schwab Investment Management Inc. increased its position in shares of RLI by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,752 shares of the insurance provider's stock valued at $77,759,000 after purchasing an additional 9,131 shares during the period. New York Life Investment Management LLC acquired a new position in RLI during the fourth quarter worth about $728,000. Raymond James Financial Inc. bought a new stake in RLI in the fourth quarter worth about $17,854,000. Empowered Funds LLC bought a new stake in RLI in the fourth quarter worth about $840,000. Finally, Callan Family Office LLC acquired a new stake in RLI in the 4th quarter valued at about $1,199,000. Institutional investors own 77.89% of the company's stock.

Wall Street Analyst Weigh In

RLI has been the topic of a number of research reports. Royal Bank of Canada dropped their target price on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Jefferies Financial Group cut RLI from a "buy" rating to an "underperform" rating and decreased their target price for the stock from $95.00 to $61.00 in a report on Monday, January 27th. Keefe, Bruyette & Woods dropped 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. StockNews.com raised shares of RLI from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $78.60.

RLI Trading Up 0.4%

Shares of RLI stock opened at $74.60 on Monday. 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 $6.85 billion, a PE ratio of 19.92 and a beta of 0.72. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. The business's 50 day moving average is $76.16 and its two-hundred day moving average is $78.95.

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

RLI Increases Dividend

The firm also recently disclosed 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. This represents a $0.60 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, February 28th. This is a boost from RLI's previous quarterly dividend of $0.15. RLI's payout ratio is currently 19.74%.

Insider Activity at RLI

In other news, Director Jordan W. Graham sold 1,500 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 12,854 shares of the company's stock, valued at approximately $961,093.58. This represents a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 transaction of $214,484.96. Following the transaction, the director now directly owns 23,312 shares in the company, valued at $1,745,835.68. This trade represents a 10.94% decrease in their position. The disclosure for this sale can be found here. 2.16% of the stock is owned by corporate insiders.

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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