RLI Corp. (NYSE:RLI) CEO Craig W. Kliethermes Acquires 5,000 Shares

RLI Corp. (NYSE:RLI) CEO Craig W. Kliethermes purchased 5,000 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were acquired 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 owns 139,190 shares of the company’s stock, valued at approximately $9,931,206.50. The trade was a 3.73 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

RLI Price Performance

NYSE RLI traded up $0.04 during trading hours on Monday, reaching $72.52. The company’s stock had a trading volume of 693,792 shares, compared to its average volume of 610,321. RLI Corp. has a 52 week low of $67.04 and a 52 week high of $91.14. The stock has a market cap of $6.65 billion, a P/E ratio of 19.36 and a beta of 0.47. The firm has a fifty day simple moving average of $82.71 and a 200-day simple moving average of $78.91.

RLI (NYSE:RLI) last announced its quarterly earnings data 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 16.38%. On average, research analysts expect that RLI Corp. will post 3.13 earnings per share for the current year.

RLI Cuts Dividend

The business also recently declared a None dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were given a dividend of $2.145 per share. 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%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Jefferies Financial Group cut shares of RLI from a “buy” rating to an “underperform” rating and cut their price target for the stock from $95.00 to $61.00 in a research note on Monday. Keefe, Bruyette & Woods cut 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. Royal Bank of Canada lowered their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Friday. Oppenheimer initiated coverage on shares of RLI in a research note on Wednesday, October 16th. They issued a “market perform” rating on the stock. Finally, Wolfe Research began coverage on RLI in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $91.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $82.80.

Hedge Funds Weigh In On RLI

Several institutional investors have recently bought and sold shares of RLI. Brown Brothers Harriman & Co. boosted its position in shares of RLI by 0.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,879 shares of the insurance provider’s stock valued at $1,221,000 after acquiring an additional 66 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. lifted its stake in RLI by 1.2% during the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider’s stock worth $892,000 after purchasing an additional 68 shares during the last quarter. Versant Capital Management Inc lifted its stake in RLI by 53.8% in the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 71 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 77 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in RLI by 5.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock valued at $230,000 after acquiring an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 77.89% 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.