RLI Corp. (NYSE:RLI) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its stake in shares of RLI Corp. (NYSE:RLI) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,925 shares of the insurance provider’s stock after selling 11,726 shares during the period. Los Angeles Capital Management LLC’s holdings in RLI were worth $16,800,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Donaldson Capital Management LLC bought a new position in shares of RLI during the third quarter worth about $3,469,000. Empowered Funds LLC bought a new position in shares of RLI during the fourth quarter worth about $840,000. KBC Group NV lifted its position in shares of RLI by 46.6% during the fourth quarter. KBC Group NV now owns 1,790 shares of the insurance provider’s stock worth $295,000 after purchasing an additional 569 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of RLI by 34.1% during the fourth quarter. Van ECK Associates Corp now owns 36,613 shares of the insurance provider’s stock worth $6,035,000 after purchasing an additional 9,320 shares during the last quarter. Finally, WCM Investment Management LLC bought a new position in shares of RLI during the fourth quarter worth about $2,542,000. Institutional investors own 77.89% of the company’s stock.

Insider Activity

In other news, Director Michael J. Stone sold 400 shares of RLI stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $84.78, for a total transaction of $33,910.00. Following the sale, the director now owns 429,622 shares of the company’s stock, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Craig W. Kliethermes purchased 5,000 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were acquired at an average cost of $71.35 per share, for a total transaction of $356,750.00. Following the acquisition, the chief executive officer now owns 139,190 shares of the company’s stock, valued at approximately $9,931,206.50. The trade was a 3.73 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 11,200 shares of company stock valued at $805,774. Insiders own 5.09% of the company’s stock.

RLI Stock Performance

Shares of NYSE RLI opened at $75.91 on Wednesday. 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 firm’s 50-day moving average price is $77.45 and its two-hundred day moving average price is $79.32. RLI Corp. has a 52-week low of $67.53 and a 52-week high of $91.14. The stock has a market capitalization of $6.96 billion, a P/E ratio of 20.27 and a beta of 0.46.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.63%. As a group, sell-side analysts forecast that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from RLI’s previous quarterly dividend of $0.15. RLI’s payout ratio is 16.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com raised shares of RLI from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Royal Bank of Canada reduced 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 report on Friday, January 24th. Keefe, Bruyette & Woods cut their target price on shares of RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Jefferies Financial Group cut shares of RLI from a “buy” rating to an “underperform” rating and cut their target price for the stock from $95.00 to $61.00 in a report on Monday, January 27th. Finally, Compass Point cut their target price on shares of RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $82.80.

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.