Headlands Technologies LLC Sells 1,304 Shares of RLI Corp. (NYSE:RLI)

Headlands Technologies LLC reduced its holdings in RLI Corp. (NYSE:RLI) by 89.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 157 shares of the insurance provider’s stock after selling 1,304 shares during the period. Headlands Technologies LLC’s holdings in RLI were worth $26,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Golden State Wealth Management LLC bought a new position in RLI during the fourth quarter worth $31,000. Versant Capital Management Inc increased its holdings 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 worth $33,000 after purchasing an additional 71 shares during the period. Nomura Asset Management Co. Ltd. raised 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 valued at $36,000 after buying an additional 100 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of RLI in the fourth quarter valued at about $56,000. Finally, EverSource Wealth Advisors LLC grew its position 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 buying an additional 159 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Stock Up 0.6 %

Shares of NYSE:RLI opened at $72.90 on Wednesday. The company has a market capitalization of $6.69 billion, a PE ratio of 19.46 and a beta of 0.49. 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 company’s fifty day moving average is $76.07 and its 200-day moving average is $79.47. RLI Corp. has a 52 week low of $67.53 and a 52 week high of $91.15.

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

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were given a $0.15 dividend. This is an increase from RLI’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.82%. RLI’s payout ratio is presently 16.00%.

Insiders Place Their Bets

In other RLI news, insider Jeffrey D. Fick purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average cost of $72.13 per share, with a total value of $144,260.00. Following the completion of the acquisition, the insider now directly owns 142,061 shares of the company’s stock, valued at $10,246,859.93. This represents a 1.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $74.89, for a total transaction of $214,484.96. Following the sale, the director now directly owns 23,312 shares in the company, valued at approximately $1,745,835.68. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 11,200 shares of company stock valued at $805,774. 5.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on RLI. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price target on shares of RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. StockNews.com upgraded shares of RLI from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Compass Point reduced their price objective on shares of RLI from $185.00 to $82.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Royal Bank of Canada lowered their target price on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $82.80.

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.