Centiva Capital LP purchased a new stake in shares of RLI Corp. (NYSE:RLI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,021 shares of the insurance provider’s stock, valued at approximately $244,000. RLI accounts for 0.0% of Centiva Capital LP’s portfolio, making the stock its 28th largest holding.
Other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in shares of RLI by 172.3% during the third quarter. Russell Investments Group Ltd. now owns 27,432 shares of the insurance provider’s stock valued at $1,574,000 after purchasing an additional 17,358 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of RLI by 3.2% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,712,682 shares of the insurance provider’s stock valued at $98,240,000 after acquiring an additional 53,112 shares during the last quarter. Sei Investments Co. lifted its position in shares of RLI by 12.5% during the 3rd quarter. Sei Investments Co. now owns 26,182 shares of the insurance provider’s stock valued at $1,502,000 after acquiring an additional 2,912 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of RLI by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 420,937 shares of the insurance provider’s stock valued at $24,145,000 after acquiring an additional 6,703 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of RLI in the third quarter valued at $466,000. 84.02% of the stock is owned by hedge funds and other institutional investors.
In other RLI news, Director Michael J. Stone sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $65.36, for a total transaction of $326,800.00. Following the sale, the director now directly owns 9,000 shares of the company’s stock, valued at approximately $588,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Stone sold 1,141 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $59.40, for a total transaction of $67,775.40. The disclosure for this sale can be found here. Insiders sold a total of 11,041 shares of company stock worth $692,888 over the last ninety days. 6.09% of the stock is currently owned by insiders.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of RLI from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Monday, January 8th. B. Riley reaffirmed a “neutral” rating on shares of RLI in a research report on Monday, November 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $55.00 price target on shares of RLI in a research report on Wednesday, December 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $51.00 target price (up previously from $50.00) on shares of RLI in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. RLI currently has an average rating of “Hold” and an average price target of $57.67.
RLI Corp. (NYSE:RLI) traded up $0.21 on Friday, reaching $62.82. 22,327 shares of the company’s stock were exchanged, compared to its average volume of 193,767. The company has a quick ratio of 0.35, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. RLI Corp. has a 12-month low of $50.34 and a 12-month high of $65.68. The firm has a market cap of $2,770.00, a price-to-earnings ratio of 38.78 and a beta of 1.28.
RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $202.74 million during the quarter, compared to analyst estimates of $197.85 million. RLI had a net margin of 13.17% and a return on equity of 8.21%. equities analysts forecast that RLI Corp. will post 2.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Wednesday, February 28th will be given a $0.21 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.84 annualized dividend and a yield of 1.34%. RLI’s dividend payout ratio is currently 51.85%.
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RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.
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