Mutual of America Capital Management LLC Sells 471 Shares of RLI Corp. (NYSE:RLI)

Mutual of America Capital Management LLC lessened its stake in shares of RLI Corp. (NYSE:RLI) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 22,026 shares of the insurance provider’s stock after selling 471 shares during the quarter. Mutual of America Capital Management LLC’s holdings in RLI were worth $3,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in RLI during the 4th quarter worth approximately $31,000. Versant Capital Management Inc grew its position in RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in RLI by 76.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. GAMMA Investing LLC grew its position in RLI by 31.8% during the 4th quarter. GAMMA Investing LLC now owns 1,035 shares of the insurance provider’s stock worth $171,000 after purchasing an additional 250 shares during the last quarter. Finally, KBC Group NV grew its position in RLI by 16.3% during the 3rd quarter. KBC Group NV now owns 1,221 shares of the insurance provider’s stock worth $189,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Stock Performance

RLI opened at $76.04 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38. The firm has a fifty day moving average price of $76.60 and a 200 day moving average price of $79.36. RLI Corp. has a 1 year low of $67.53 and a 1 year high of $91.14. The stock has a market cap of $6.98 billion, a P/E ratio of 20.30 and a beta of 0.46.

RLI (NYSE:RLI) last posted its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (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%. Equities research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be paid a $0.15 dividend. This is a boost from RLI’s previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, February 28th. RLI’s payout ratio is currently 16.00%.

Analysts Set New Price Targets

Several analysts have weighed in on RLI shares. StockNews.com raised shares of RLI from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Jefferies Financial Group downgraded shares of RLI from a “buy” rating to an “underperform” rating and dropped their price objective for the company 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 on the stock in a report on Friday, January 24th. Keefe, Bruyette & Woods dropped their price objective 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $82.80.

Insider Activity at RLI

In related news, CEO Craig W. Kliethermes acquired 5,000 shares of RLI stock in a transaction on Friday, January 24th. The stock was bought at an average cost of $71.35 per share, for a total transaction of $356,750.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael J. Stone sold 400 shares of the company’s stock in a transaction 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 transaction, the director now owns 429,622 shares of the company’s stock, valued at $36,421,205.05. This represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 11,200 shares of company stock worth $805,774 in the last three months. Company insiders own 5.09% of the company’s stock.

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.