726 Shares in RLI Corp. (NYSE:RLI) Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd bought a new position in shares of RLI Corp. (NYSE:RLI) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 726 shares of the insurance provider’s stock, valued at approximately $120,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RLI. Golden State Wealth Management LLC purchased a new position in RLI during the 4th quarter worth $31,000. Versant Capital Management Inc grew its stake in RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after buying an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in RLI by 76.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after buying an additional 100 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in RLI during the 4th quarter worth $56,000. Finally, EverSource Wealth Advisors LLC grew its stake in RLI by 47.0% during the 4th 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. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was 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 of the company’s stock, valued at approximately $1,745,835.68. This represents a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey D. Fick purchased 2,000 shares of RLI stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average cost of $72.13 per share, with a total value of $144,260.00. Following the acquisition, the insider now directly owns 142,061 shares in the company, valued at $10,246,859.93. This trade represents a 1.43 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 11,200 shares of company stock valued at $805,774. 5.09% of the stock is owned by company insiders.

RLI Stock Performance

Shares of RLI stock opened at $76.31 on Friday. The stock has a market cap of $7.00 billion, a PE ratio of 20.38 and a beta of 0.39. The business has a 50-day simple moving average of $75.46 and a 200-day simple moving average of $79.33. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. RLI Corp. has a 52-week low of $67.53 and a 52-week high of $91.15.

RLI (NYSE:RLI) last issued 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 net margin of 19.53% and a return on equity of 16.63%. On average, equities analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were issued a $0.15 dividend. This is a boost from RLI’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.79%. RLI’s dividend payout ratio is presently 16.00%.

Analyst Ratings Changes

A number of analysts have commented on RLI shares. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. 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 research report on Friday, January 10th. Compass Point lowered their price target on RLI from $185.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Royal Bank of Canada lowered their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, StockNews.com raised RLI from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $82.80.

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.