XTX Topco Ltd Acquires Shares of 3,449 RLI Corp. (NYSE:RLI)

XTX Topco Ltd acquired a new stake in RLI Corp. (NYSE:RLI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,449 shares of the insurance provider's stock, valued at approximately $568,000.

Several other institutional investors have also added to or reduced their stakes in RLI. Norges Bank acquired a new position in RLI during the 4th quarter worth approximately $80,476,000. Wellington Management Group LLP grew its stake in shares of RLI by 580.4% during the fourth quarter. Wellington Management Group LLP now owns 415,247 shares of the insurance provider's stock worth $68,445,000 after buying an additional 354,219 shares during the last quarter. Nepsis Inc. increased its holdings in shares of RLI by 138.8% during the fourth quarter. Nepsis Inc. now owns 296,526 shares of the insurance provider's stock worth $48,876,000 after buying an additional 172,370 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of RLI by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 1,024,518 shares of the insurance provider's stock valued at $168,907,000 after acquiring an additional 116,088 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of RLI during the 4th quarter valued at $17,854,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RLI has been the subject of a number of recent research reports. Jefferies Financial Group cut RLI from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $95.00 to $61.00 in a report on Monday, January 27th. Royal Bank of Canada dropped their price objective on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating for the company in a report on Friday, January 24th. Keefe, Bruyette & Woods reduced their target price on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday. Finally, Compass Point reiterated a "neutral" rating and set a $76.00 price target (down previously from $82.00) on shares of RLI in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, RLI presently has an average rating of "Hold" and a consensus target price of $78.60.

Insider Buying and Selling

In related news, Director David B. Duclos acquired 2,000 shares of the business's stock in a transaction dated Wednesday, January 29th. The shares were bought at an average price of $72.50 per share, with a total value of $145,000.00. Following the transaction, the director now directly owns 7,215 shares of the company's stock, valued at $523,087.50. This trade represents a 38.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 23,312 shares of the company's stock, valued at $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. 2.16% of the stock is currently owned by insiders.

RLI Trading Down 3.1 %

Shares of NYSE RLI traded down $2.35 during midday trading on Friday, reaching $72.87. The stock had a trading volume of 185,554 shares, compared to its average volume of 358,367. The company's 50 day moving average price is $76.45 and its 200 day moving average price is $79.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. RLI Corp. has a twelve month low of $68.50 and a twelve month high of $91.15. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 19.47 and a beta of 0.49.

RLI (NYSE:RLI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating 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 business had revenue of $36.73 million for the quarter, compared to analyst estimates of $442.20 million. As a group, sell-side analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The firm 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. This is a positive change from RLI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.82%. RLI's dividend payout ratio is presently 16.00%.

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.