Aigen Investment Management LP Sells 3,893 Shares of RLI Corp. (NYSE:RLI)

Aigen Investment Management LP reduced its holdings in shares of RLI Corp. (NYSE:RLI) by 68.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,786 shares of the insurance provider’s stock after selling 3,893 shares during the quarter. Aigen Investment Management LP’s holdings in RLI were worth $294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RLI. Brown Brothers Harriman & Co. increased its holdings in RLI by 0.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,879 shares of the insurance provider’s stock worth $1,221,000 after purchasing an additional 66 shares in the last quarter. Versant Capital Management Inc increased its holdings in RLI by 53.8% in 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 in the last quarter. OneDigital Investment Advisors LLC increased its holdings in RLI by 2.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,723 shares of the insurance provider’s stock worth $577,000 after purchasing an additional 95 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in RLI by 76.9% in 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 in the last quarter. Finally, SkyView Investment Advisors LLC increased its holdings in RLI by 2.3% in the 3rd quarter. SkyView Investment Advisors LLC now owns 4,545 shares of the insurance provider’s stock worth $704,000 after purchasing an additional 103 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RLI has been the subject of a number of recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. Jefferies Financial Group cut RLI from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $95.00 to $61.00 in a report on Monday, January 27th. Keefe, Bruyette & Woods lowered their target price on RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Compass Point decreased their price target on RLI from $185.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, StockNews.com raised RLI from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $82.80.

RLI Trading Up 0.4 %

Shares of RLI stock opened at $75.95 on Friday. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 20.28 and a beta of 0.39. The stock has a 50-day moving average of $76.30 and a 200-day moving average of $79.38. 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 Corp. has a 1-year low of $67.53 and a 1-year high of $91.14.

RLI (NYSE:RLI) last released 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 return on equity of 16.63% and a net margin of 19.53%. On average, equities research analysts forecast that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The firm 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 dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.79%. This is a boost from RLI’s previous quarterly dividend of $0.15. RLI’s dividend payout ratio (DPR) is currently 16.00%.

Insider Buying and Selling

In other RLI news, CEO Craig W. Kliethermes bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average price of $71.35 per share, with a total value of $356,750.00. Following the completion of the purchase, the chief executive officer now directly owns 139,190 shares of the company’s stock, valued at approximately $9,931,206.50. This trade represents a 3.73 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David B. Duclos purchased 2,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average price of $72.50 per share, for a total transaction of $145,000.00. Following the acquisition, the director now owns 7,215 shares of the company’s stock, valued at approximately $523,087.50. This represents a 38.35 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 11,200 shares of company stock valued at $805,774 over the last 90 days. 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.