RLI Corp. (NYSE:RLI) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in shares of RLI Corp. (NYSE:RLI) by 9.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,187 shares of the insurance provider’s stock after purchasing an additional 288 shares during the quarter. Hsbc Holdings PLC’s holdings in RLI were worth $525,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in shares of RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 71 shares during the period. Brookstone Capital Management lifted its stake 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 purchasing an additional 127 shares during the last quarter. Everhart Financial Group Inc. increased its position in shares of RLI by 10.0% during the fourth quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider’s stock valued at $269,000 after acquiring an additional 148 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in RLI by 47.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock worth $82,000 after purchasing an additional 159 shares in the last quarter. Finally, Atomi Financial Group Inc. boosted its holdings in RLI by 9.5% during the 4th quarter. Atomi Financial Group Inc. now owns 1,875 shares of the insurance provider’s stock valued at $309,000 after acquiring an additional 162 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Stock Up 0.4 %

Shares of RLI stock opened at $74.65 on Wednesday. The business’s fifty day moving average is $76.27 and its 200-day moving average is $79.08. The stock has a market cap of $6.85 billion, a PE ratio of 19.93 and a beta of 0.72. 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 1 year low of $68.50 and a 1 year high of $91.15.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.04. RLI had a net margin of 19.53% and a return on equity of 16.63%. The firm had revenue of $36.73 million for the quarter, compared to analysts’ expectations of $442.20 million. During the same period in the previous year, the company posted $0.95 EPS. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. Equities analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.80%. The ex-dividend date was Friday, February 28th. This is an increase from RLI’s previous quarterly dividend of $0.15. RLI’s dividend payout ratio (DPR) is 19.74%.

Insider Activity at RLI

In other news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $74.89, for a total value of $214,484.96. Following the completion of the transaction, the director now directly owns 23,312 shares of the company’s stock, valued at approximately $1,745,835.68. This represents a 10.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jordan W. Graham sold 1,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 12,854 shares in the company, valued at $961,093.58. The trade was a 10.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RLI has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price objective on RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Compass Point cut shares of RLI from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Jefferies Financial Group lowered RLI from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $95.00 to $61.00 in a report on Monday, January 27th. Royal Bank of Canada reduced their price objective on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Finally, StockNews.com raised RLI from a “sell” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $78.60.

RLI 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.