Arrowstreet Capital Limited Partnership Has $1 Million Stake in RLI Corp. (NYSE:RLI)

Arrowstreet Capital Limited Partnership raised its stake in shares of RLI Corp. (NYSE:RLI) by 92.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,066 shares of the insurance provider’s stock after purchasing an additional 2,911 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in RLI were worth $1,000,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in RLI by 53.8% during the fourth 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. 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 purchasing an additional 100 shares in the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of RLI by 2.3% in the 3rd quarter. SkyView Investment Advisors LLC now owns 4,545 shares of the insurance provider’s stock valued at $704,000 after buying an additional 103 shares during the period. Brookstone Capital Management increased its position in shares of RLI by 7.5% in the 4th quarter. Brookstone Capital Management now owns 1,827 shares of the insurance provider’s stock valued at $301,000 after buying an additional 127 shares in the last quarter. Finally, Everhart Financial Group Inc. raised its stake in RLI by 10.0% during the 4th quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider’s stock worth $269,000 after buying an additional 148 shares during the period. 77.89% of the stock is owned by institutional investors.

Insider Activity at RLI

In other news, insider Jeffrey D. Fick purchased 2,000 shares of the business’s stock in a transaction on Friday, January 24th. The stock was purchased at an average price of $72.13 per share, for a total transaction of $144,260.00. Following the completion of the purchase, the insider now directly owns 142,061 shares in the company, valued at $10,246,859.93. The trade was a 1.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Craig W. Kliethermes acquired 5,000 shares of the stock in a transaction dated Friday, January 24th. The shares were purchased at an average price of $71.35 per share, for a total transaction of $356,750.00. Following the completion of the purchase, the chief executive officer now directly owns 139,190 shares in the company, valued at $9,931,206.50. The trade was a 3.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 11,200 shares of company stock valued at $805,774. Insiders own 5.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RLI shares. Jefferies Financial Group cut RLI from a “buy” rating to an “underperform” rating and decreased their target price for the company from $95.00 to $61.00 in a research note on Monday, January 27th. Keefe, Bruyette & Woods lowered their target price on RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Thursday, January 23rd. StockNews.com raised shares of RLI from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Compass Point cut their price objective 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. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RLI presently has an average rating of “Hold” and a consensus price target of $79.80.

RLI Trading Up 0.1 %

NYSE:RLI opened at $76.44 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. RLI Corp. has a twelve month low of $67.53 and a twelve month high of $91.15. The company has a market cap of $7.01 billion, a P/E ratio of 20.41 and a beta of 0.49. The business has a 50 day moving average price of $76.23 and a two-hundred day moving average price of $79.44.

RLI (NYSE:RLI) last issued its quarterly earnings results 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 net margin of 19.53% and a return on equity of 16.63%. As a group, analysts expect that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were given a dividend of $0.15 per share. The ex-dividend date was Friday, February 28th. This is a boost from RLI’s previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a yield of 0.78%. RLI’s dividend payout ratio is 16.00%.

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.