David B. Duclos Buys 2,000 Shares of RLI Corp. (NYSE:RLI) Stock

RLI Corp. (NYSE:RLI) Director David B. Duclos purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was acquired at an average price of $72.50 per share, with a total value of $145,000.00. Following the completion of the purchase, the director now owns 7,215 shares of the company’s stock, valued at $523,087.50. The trade was a 38.35 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

RLI Price Performance

Shares of RLI opened at $73.41 on Friday. The company has a market capitalization of $6.73 billion, a P/E ratio of 19.60 and a beta of 0.47. The business’s 50-day moving average is $81.50 and its two-hundred day moving average is $78.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. RLI Corp. has a fifty-two week low of $67.04 and a fifty-two week high of $91.14.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share 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%. Research analysts predict that RLI Corp. will post 3.09 earnings per share for the current year.

RLI Cuts Dividend

The company 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 was Friday, November 29th. This represents a yield of 0.7%. RLI’s dividend payout ratio is presently 15.49%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new position in shares of RLI in the 2nd quarter valued at about $244,000. Squarepoint Ops LLC increased its position in shares of RLI by 47.4% in the second quarter. Squarepoint Ops LLC now owns 11,697 shares of the insurance provider’s stock valued at $1,646,000 after buying an additional 3,762 shares in the last quarter. Algert Global LLC increased its position in shares of RLI by 38.7% in the second quarter. Algert Global LLC now owns 14,842 shares of the insurance provider’s stock valued at $2,088,000 after buying an additional 4,142 shares in the last quarter. Creative Planning raised its stake in shares of RLI by 3.3% during the 2nd quarter. Creative Planning now owns 18,142 shares of the insurance provider’s stock worth $2,552,000 after buying an additional 588 shares during the period. Finally, Quarry LP lifted its position in shares of RLI by 150.4% during the 2nd quarter. Quarry LP now owns 929 shares of the insurance provider’s stock valued at $131,000 after buying an additional 558 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on RLI. Keefe, Bruyette & Woods decreased their price objective on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Wolfe Research started coverage on shares of RLI in a research note on Wednesday, October 9th. They set an “outperform” rating and a $91.00 price objective for the company. Jefferies Financial Group downgraded RLI from a “buy” rating to an “underperform” rating and cut their target price for the company from $95.00 to $61.00 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 lowered RLI from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, RLI presently has an average rating of “Hold” and an average price target of $82.80.

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.