RLI Corp. (NYSE:RLI) Shares Purchased by Creekmur Asset Management LLC

Creekmur Asset Management LLC boosted its stake in shares of RLI Corp. (NYSE:RLI) by 9.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,701 shares of the insurance provider’s stock after buying an additional 590 shares during the period. Creekmur Asset Management LLC’s holdings in RLI were worth $1,105,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of RLI in the 4th quarter worth approximately $31,000. Versant Capital Management Inc raised its holdings 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 period. Nomura Asset Management Co. Ltd. boosted its position 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 acquiring an additional 100 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of RLI during the 4th quarter worth approximately $56,000. Finally, EverSource Wealth Advisors LLC raised its stake in RLI by 47.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $82,000 after buying an additional 159 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RLI has been the topic of several analyst reports. Compass Point reduced their price target on shares of RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. StockNews.com raised RLI from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Royal Bank of Canada lowered their price target on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $82.80.

RLI Stock Performance

NYSE RLI opened at $80.76 on Wednesday. The firm has a market capitalization of $7.41 billion, a P/E ratio of 21.57 and a beta of 0.39. 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 $67.53 and a fifty-two week high of $91.15. The stock’s fifty day moving average is $75.74 and its two-hundred day moving average is $79.51.

RLI (NYSE:RLI) last posted its quarterly earnings data 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%. On average, research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 28th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.74%. This is a positive change from RLI’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, February 28th. RLI’s payout ratio is presently 16.00%.

Insider Activity at RLI

In other RLI news, Director Jordan W. Graham sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $74.77, for a total value of $112,155.00. Following the transaction, the director now owns 12,854 shares of the company’s stock, valued at approximately $961,093.58. This represents a 10.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Craig W. Kliethermes bought 5,000 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was acquired at an average cost of $71.35 per share, with a total value of $356,750.00. Following the transaction, the chief executive officer now owns 139,190 shares of the company’s stock, valued at $9,931,206.50. This trade represents a 3.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 11,200 shares of company stock valued at $805,774 over the last three months. 4.91% of the stock is owned by insiders.

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.