13,022 Shares in RLI Corp. (NYSE:RLI) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in RLI Corp. (NYSE:RLI) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,022 shares of the insurance provider’s stock, valued at approximately $2,146,000.

Several other hedge funds have also recently modified their holdings of RLI. Golden State Wealth Management LLC purchased a new stake in shares of RLI during the fourth quarter valued at approximately $31,000. Versant Capital Management Inc increased its position in shares of RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of 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 period. SBI Securities Co. Ltd. purchased a new position in shares of RLI in the 4th quarter worth about $56,000. Finally, GAMMA Investing LLC grew its position in RLI by 31.8% during the fourth quarter. GAMMA Investing LLC now owns 1,035 shares of the insurance provider’s stock valued at $171,000 after buying an additional 250 shares during the period. Institutional investors own 77.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of RLI from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Royal Bank of Canada dropped 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. Keefe, Bruyette & Woods decreased 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. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. Finally, Compass Point lowered 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $82.80.

RLI Trading Down 0.7 %

Shares of RLI stock opened at $75.51 on Thursday. The company’s 50-day moving average price is $75.44 and its 200-day moving average price is $79.34. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 20.16 and a beta of 0.39. RLI Corp. has a 12-month low of $67.53 and a 12-month high of $91.15. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI) last released 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%. On average, equities analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

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

Insider Activity

In other RLI news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $74.89, for a total transaction of $214,484.96. Following the sale, the director now owns 23,312 shares in the company, valued at $1,745,835.68. This trade represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Craig W. Kliethermes acquired 5,000 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was purchased at an average price of $71.35 per share, with a total value of $356,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 139,190 shares in the company, valued at approximately $9,931,206.50. This represents a 3.73 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 11,200 shares of company stock worth $805,774. 5.09% of the stock is currently owned by insiders.

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.