WCM Investment Management LLC Invests $2.54 Million in RLI Corp. (NYSE:RLI)

WCM Investment Management LLC purchased a new position in shares of RLI Corp. (NYSE:RLI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 15,426 shares of the insurance provider’s stock, valued at approximately $2,542,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Motiv8 Investments LLC bought a new stake in shares of RLI during the third quarter worth $217,000. Donaldson Capital Management LLC acquired a new position in RLI during the 3rd quarter worth about $3,469,000. Whittier Trust Co. grew its holdings in RLI by 4.6% during the 3rd quarter. Whittier Trust Co. now owns 87,580 shares of the insurance provider’s stock worth $13,573,000 after acquiring an additional 3,835 shares during the last quarter. Laurus Investment Counsel Inc. increased its position in RLI by 53.2% in the 3rd quarter. Laurus Investment Counsel Inc. now owns 10,280 shares of the insurance provider’s stock valued at $1,593,000 after acquiring an additional 3,570 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of RLI by 327.3% in the third quarter. SG Americas Securities LLC now owns 4,593 shares of the insurance provider’s stock worth $712,000 after acquiring an additional 3,518 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Trading Down 1.5 %

NYSE RLI opened at $75.73 on Tuesday. RLI Corp. has a 12 month low of $67.53 and a 12 month high of $91.14. The stock has a 50-day simple moving average of $79.86 and a 200 day simple moving average of $79.19. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $6.94 billion, a PE ratio of 20.22 and a beta of 0.46.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 EPS 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%. Research analysts forecast that RLI Corp. will post 3.09 EPS for the current year.

Insider Buying and Selling at RLI

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JMP Securities reissued a “market perform” rating on shares of RLI in a research note on Thursday, January 23rd. Jefferies Financial Group lowered RLI from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $95.00 to $61.00 in a research report on Monday, January 27th. Keefe, Bruyette & Woods dropped their target price on RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Compass Point decreased their price target on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Finally, Oppenheimer began coverage on RLI in a report on Wednesday, October 16th. They set a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $82.80.

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.