Teacher Retirement System of Texas Purchases 2,666 Shares of RLI Corp. (NYSE:RLI)

Teacher Retirement System of Texas raised its position in shares of RLI Corp. (NYSE:RLI) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,759 shares of the insurance provider’s stock after purchasing an additional 2,666 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of RLI worth $8,696,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of RLI during the 4th quarter valued at approximately $31,000. Versant Capital Management Inc grew its stake in shares of RLI by 53.8% during the 4th 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 during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of RLI by 76.9% during the 3rd 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 during the period. SBI Securities Co. Ltd. bought a new position in shares of RLI during the 4th quarter valued at approximately $56,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of RLI by 47.0% during the 4th 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 during the period. 77.89% of the stock is currently owned by institutional investors.

Insider Transactions at RLI

In related news, CEO Craig W. Kliethermes purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were bought at an average price of $71.35 per share, for a total transaction of $356,750.00. Following the acquisition, the chief executive officer now owns 139,190 shares of the company’s stock, valued at approximately $9,931,206.50. This represents a 3.73 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jordan W. Graham sold 1,500 shares of the stock in a transaction on 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 owns 12,854 shares in the company, valued at $961,093.58. The trade was a 10.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought 11,200 shares of company stock valued at $805,774 in the last ninety days. Corporate insiders own 5.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RLI. JMP Securities reiterated a “market perform” rating on shares of RLI in a research note on Thursday, January 23rd. StockNews.com upgraded RLI from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Keefe, Bruyette & Woods dropped their price target on RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Compass Point dropped 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, Royal Bank of Canada dropped their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $82.80.

RLI Stock Up 0.2 %

Shares of RLI opened at $76.31 on Friday. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 20.38 and a beta of 0.39. RLI Corp. has a 1 year low of $67.53 and a 1 year high of $91.15. The business’s 50 day simple moving average is $75.46 and its 200-day simple moving average is $79.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38.

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 return on equity of 16.63% and a net margin of 19.53%. As a group, equities analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

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

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.