Insider Selling: RLI Corp. (NYSE:RLI) Director Sells $112,155.00 in Stock

RLI Corp. (NYSE:RLI) Director Jordan W. Graham sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $74.77, for a total value of $112,155.00. Following the sale, the director now directly owns 12,854 shares in the company, valued at approximately $961,093.58. The trade was a 10.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

RLI Trading Up 1.8 %

Shares of NYSE:RLI opened at $75.74 on Friday. RLI Corp. has a 52-week low of $67.53 and a 52-week high of $91.15. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 20.22 and a beta of 0.39. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $75.58 and a 200-day moving average price of $79.36.

RLI (NYSE:RLI) last announced its quarterly earnings data 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 return on equity of 16.63% and a net margin of 19.53%. Equities analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new position in RLI during the fourth quarter valued at approximately $31,000. Versant Capital Management Inc raised its position in RLI by 53.8% during the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 71 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in RLI by 76.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in RLI during the fourth quarter valued at approximately $56,000. Finally, EverSource Wealth Advisors LLC raised its position in RLI by 47.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $82,000 after acquiring an additional 159 shares in the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

About RLI

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.