Jane Street Group LLC Has $3.06 Million Stake in RLI Corp. (NYSE:RLI)

Jane Street Group LLC boosted its holdings in shares of RLI Corp. (NYSE:RLI) by 212.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,579 shares of the insurance provider’s stock after buying an additional 12,639 shares during the period. Jane Street Group LLC’s holdings in RLI were worth $3,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in RLI during the fourth quarter worth $31,000. SBI Securities Co. Ltd. bought a new position in RLI during the 4th quarter valued at about $56,000. EverSource Wealth Advisors LLC grew its stake in RLI by 47.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock worth $82,000 after buying an additional 159 shares during the last quarter. Quarry LP acquired a new stake in shares of RLI during the fourth quarter worth approximately $108,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of RLI in the fourth quarter valued at approximately $120,000. Institutional investors own 77.89% of the company’s stock.

Insider Buying and Selling at RLI

In other news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $74.89, for a total value of $214,484.96. Following the completion of the transaction, the director now owns 23,312 shares in the company, valued at $1,745,835.68. This represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jordan W. Graham sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $74.77, for a total transaction of $112,155.00. Following the completion of the transaction, the director now directly owns 12,854 shares of the company’s stock, valued at approximately $961,093.58. The trade was a 10.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RLI shares. Compass Point cut RLI from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Jefferies Financial Group cut RLI from a “buy” rating to an “underperform” rating and cut their price target for the company from $95.00 to $61.00 in a report on Monday, January 27th. StockNews.com raised shares of RLI from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods lowered their price objective on shares of RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada reduced their target price 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $78.60.

RLI Stock Down 0.6%

Shares of NYSE RLI opened at $74.33 on Wednesday. RLI Corp. has a 1 year low of $68.50 and a 1 year high of $91.15. The firm’s 50-day moving average is $76.11 and its 200-day moving average is $78.90. 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 firm has a market capitalization of $6.82 billion, a PE ratio of 19.85 and a beta of 0.72.

RLI (NYSE:RLI) last released its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $36.73 million during the quarter, compared to analyst estimates of $442.20 million. RLI had a net margin of 19.53% and a return on equity of 16.63%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 EPS. Equities analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from RLI’s previous quarterly dividend of $0.15. RLI’s dividend payout ratio is currently 19.74%.

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.