Michael E. Angelina Buys 2,200 Shares of RLI Corp. (NYSE:RLI) Stock

RLI Corp. (NYSE:RLI) Director Michael E. Angelina bought 2,200 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were purchased at an average price of $72.62 per share, with a total value of $159,764.00. Following the transaction, the director now directly owns 23,514 shares in the company, valued at $1,707,586.68. This represents a 10.32 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

RLI Price Performance

Shares of RLI stock traded up $0.04 during trading hours on Monday, reaching $72.52. The company had a trading volume of 693,792 shares, compared to its average volume of 610,321. RLI Corp. has a 1-year low of $67.04 and a 1-year high of $91.14. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 19.36 and a beta of 0.47. The company has a 50 day moving average of $82.71 and a 200 day moving average of $78.91.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a return on equity of 16.38% and a net margin of 19.53%. As a group, sell-side analysts forecast that RLI Corp. will post 3.13 EPS for the current fiscal year.

RLI Cuts Dividend

The firm also recently announced a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were paid a $2.145 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a yield of 0.7%. RLI’s payout ratio is 15.49%.

Institutional Investors Weigh In On RLI

A number of hedge funds have recently modified their holdings of the business. UMB Bank n.a. lifted its position in RLI by 620.0% in the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 155 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 71 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of RLI in the third quarter valued at about $32,000. Nomura Asset Management Co. Ltd. boosted its position in shares of RLI by 76.9% during the third 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 period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of RLI by 45.6% during the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after buying an additional 77 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RLI shares. Oppenheimer began coverage on shares of RLI in a research note on Wednesday, October 16th. They issued a “market perform” rating for the company. Royal Bank of Canada cut their price objective on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday. Wolfe Research initiated coverage on RLI in a report on Wednesday, October 9th. They set an “outperform” rating and a $91.00 target price on the stock. Jefferies Financial Group lowered shares of RLI from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $95.00 to $61.00 in a report on Monday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.