RLI Corp. (NYSE:RLI) Director Michael E. Angelina Acquires 2,200 Shares

RLI Corp. (NYSE:RLIGet Free Report) Director Michael E. Angelina acquired 2,200 shares of RLI stock in a transaction on Friday, January 24th. The shares were bought at an average cost of $72.62 per share, for a total transaction of $159,764.00. Following the completion of the transaction, the director now owns 23,514 shares in the company, valued at approximately $1,707,586.68. This trade represents a 10.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

RLI Trading Up 0.1 %

NYSE RLI opened at $72.52 on Tuesday. RLI Corp. has a 12 month low of $67.04 and a 12 month high of $91.14. The stock’s fifty day moving average price is $82.71 and its 200-day moving average price is $78.91. The stock has a market cap of $6.65 billion, a P/E ratio of 19.36 and a beta of 0.47.

RLI (NYSE:RLIGet Free Report) last announced its quarterly earnings data 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 16.38%. As a group, analysts forecast that RLI Corp. will post 3.13 earnings per share for the current fiscal year.

RLI Cuts Dividend

The company also recently disclosed a None dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were issued a $2.145 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a yield of 0.7%. RLI’s payout ratio is currently 15.49%.

Analysts Set New Price Targets

RLI has been the topic of several research analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Oppenheimer assumed coverage on RLI in a research report on Wednesday, October 16th. They issued a “market perform” rating for the company. Royal Bank of Canada lowered their target price on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research note on Friday. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Thursday, January 23rd. Finally, StockNews.com lowered RLI from a “hold” rating to a “sell” rating in a research report on Monday. 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. According to MarketBeat.com, RLI currently has an average rating of “Hold” and an average price target of $82.80.

View Our Latest Stock Report on RLI

Hedge Funds Weigh In On RLI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of RLI by 1.3% in the 3rd quarter. State Street Corp now owns 4,393,250 shares of the insurance provider’s stock worth $680,866,000 after purchasing an additional 58,167 shares in the last quarter. Geode Capital Management LLC increased its holdings in RLI by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 908,430 shares of the insurance provider’s stock worth $140,817,000 after buying an additional 50,654 shares in the last quarter. Thrivent Financial for Lutherans raised its position in RLI by 0.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 813,719 shares of the insurance provider’s stock worth $126,110,000 after buying an additional 4,330 shares during the last quarter. Port Capital LLC lifted its stake in RLI by 0.4% during the 3rd quarter. Port Capital LLC now owns 759,988 shares of the insurance provider’s stock valued at $117,783,000 after acquiring an additional 3,200 shares during the period. Finally, Maren Capital LLC lifted its position in RLI by 4.3% during the third quarter. Maren Capital LLC now owns 674,729 shares of the insurance provider’s stock valued at $104,570,000 after purchasing an additional 27,940 shares during the period. 77.89% of the stock is owned by institutional investors.

About RLI

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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.

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