Envestnet Asset Management Inc. Increases Position in RLI Corp. (NYSE:RLI)

Envestnet Asset Management Inc. increased its stake in shares of RLI Corp. (NYSE:RLI) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,804 shares of the insurance provider’s stock after buying an additional 1,731 shares during the period. Envestnet Asset Management Inc. owned about 0.11% of RLI worth $16,780,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RLI. Golden State Wealth Management LLC bought a new position in RLI in the 4th quarter worth approximately $31,000. Versant Capital Management Inc increased its stake in RLI by 53.8% in the fourth 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 last quarter. SBI Securities Co. Ltd. bought a new position in shares of RLI during the 4th quarter valued at about $56,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 acquiring an additional 159 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in RLI in the 4th quarter worth $120,000. Institutional investors own 77.89% of the company’s stock.

Insider Activity at RLI

In related news, insider Jeffrey D. Fick bought 2,000 shares of RLI stock in a transaction dated Friday, January 24th. The shares were acquired at an average cost of $72.13 per share, with a total value of $144,260.00. Following the completion of the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Craig W. Kliethermes purchased 5,000 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average price of $71.35 per share, with a total value of $356,750.00. Following the acquisition, the chief executive officer now directly owns 139,190 shares of the company’s stock, valued at $9,931,206.50. This trade represents a 3.73 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 11,200 shares of company stock worth $805,774. Insiders own 5.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on RLI shares. Compass Point dropped their price objective on RLI from $185.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Keefe, Bruyette & Woods lowered their price objective on RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group lowered RLI from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $95.00 to $61.00 in a research report on Monday, January 27th. StockNews.com raised shares of RLI from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $79.80.

RLI Trading Down 0.2 %

RLI stock opened at $77.59 on Wednesday. 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 52-week low of $67.53 and a 52-week high of $91.15. The company has a market cap of $7.12 billion, a P/E ratio of 20.72 and a beta of 0.49. The business has a 50-day simple moving average of $76.23 and a two-hundred day simple moving average of $79.45.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a return on equity of 16.63% and a net margin of 19.53%. Analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The business 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. The ex-dividend date was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.77%. This is an increase from RLI’s previous quarterly dividend of $0.15. RLI’s payout ratio is currently 16.00%.

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.