Apollon Wealth Management LLC Boosts Stock Position in RLI Corp. (NYSE:RLI)

Apollon Wealth Management LLC increased its stake in shares of RLI Corp. (NYSE:RLI) by 21.0% in the fourth quarter, HoldingsChannel reports. The firm owned 2,579 shares of the insurance provider’s stock after buying an additional 447 shares during the quarter. Apollon Wealth Management LLC’s holdings in RLI were worth $425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new stake in RLI during the 4th quarter worth about $31,000. Longboard Asset Management LP acquired a new stake in RLI in the 4th quarter worth about $219,000. Ausbil Investment Management Ltd boosted its stake in RLI by 69.3% in the 4th quarter. Ausbil Investment Management Ltd now owns 4,238 shares of the insurance provider’s stock worth $689,000 after buying an additional 1,735 shares during the last quarter. Ibex Wealth Advisors acquired a new stake in RLI in the 4th quarter worth about $300,000. Finally, KBC Group NV boosted its stake in RLI by 46.6% in the 4th quarter. KBC Group NV now owns 1,790 shares of the insurance provider’s stock worth $295,000 after buying an additional 569 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Stock Performance

Shares of NYSE:RLI opened at $76.03 on Friday. The company has a market cap of $6.97 billion, a P/E ratio of 20.30 and a beta of 0.46. 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 one year low of $67.53 and a one year high of $91.14. The business’s 50-day simple moving average is $79.17 and its 200 day simple moving average is $79.20.

RLI (NYSE:RLI) last announced its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.63%. On average, sell-side analysts forecast that RLI Corp. will post 3.09 earnings per share for the current fiscal year.

Insider Activity at RLI

In other RLI 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 directly owns 429,622 shares in the company, valued at $36,421,205.05. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael E. Angelina acquired 2,200 shares of the company’s stock in a transaction on Friday, January 24th. The shares were acquired at an average price of $72.62 per share, for a total transaction of $159,764.00. Following the completion of the acquisition, the director now directly owns 23,514 shares in the company, valued at $1,707,586.68. The trade was a 10.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 11,200 shares of company stock worth $805,774. 5.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RLI shares. Royal Bank of Canada reduced their price objective on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Compass Point reduced their price objective on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Jefferies Financial Group lowered RLI from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $95.00 to $61.00 in a research note on Monday, January 27th. Keefe, Bruyette & Woods reduced their price objective on RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, StockNews.com lowered RLI from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RLI presently has a consensus rating of “Hold” and a consensus target price of $82.80.

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.