Alpine Global Management LLC Acquires Shares of 3,177 RLI Corp. (NYSE:RLI)

Alpine Global Management LLC acquired a new stake in RLI Corp. (NYSE:RLI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,177 shares of the insurance provider’s stock, valued at approximately $524,000.

Several other institutional investors also recently bought and sold shares of RLI. Golden State Wealth Management LLC acquired a new stake in shares of RLI in the fourth quarter worth approximately $31,000. SBI Securities Co. Ltd. acquired a new stake in shares of RLI in the fourth quarter worth approximately $56,000. EverSource Wealth Advisors LLC boosted its stake in shares of RLI by 47.0% in 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 during the last quarter. Quarry LP acquired a new stake in shares of RLI in the fourth quarter worth approximately $108,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of RLI in the fourth quarter worth approximately $120,000. 77.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the company’s stock in a transaction 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 transaction, the director now owns 23,312 shares of the company’s stock, valued at $1,745,835.68. This represents a 10.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jordan W. Graham sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were 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 approximately $961,093.58. This trade represents a 10.45% decrease in their position. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RLI has been the topic of a number of research analyst reports. Jefferies Financial Group lowered RLI from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $95.00 to $61.00 in a research note on Monday, January 27th. Keefe, Bruyette & Woods lowered their price target on RLI from $95.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research note on Tuesday, May 6th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Thursday, April 24th. Finally, Compass Point lowered RLI from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, RLI presently has an average rating of “Hold” and a consensus target price of $78.60.

RLI Stock Performance

Shares of RLI stock opened at $74.13 on Friday. RLI Corp. has a one year low of $68.50 and a one year high of $91.15. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 19.79 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. The business’s 50 day moving average price is $76.06 and its 200 day moving average price is $78.73.

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

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 30th will be given a dividend of $0.16 per share. This is an increase from RLI’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.86%. RLI’s dividend payout ratio (DPR) is presently 21.05%.

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.