RLI Corp. (NYSE:RLI) Shares Sold by LRT Capital Management LLC

LRT Capital Management LLC reduced its holdings in RLI Corp. (NYSE:RLI) by 19.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,872 shares of the insurance provider’s stock after selling 4,937 shares during the period. RLI comprises 2.6% of LRT Capital Management LLC’s holdings, making the stock its 7th biggest position. LRT Capital Management LLC’s holdings in RLI were worth $3,276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new stake in RLI during the 4th quarter worth about $31,000. SBI Securities Co. Ltd. acquired a new stake in RLI during the fourth quarter worth about $56,000. EverSource Wealth Advisors LLC raised 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 valued at $82,000 after acquiring an additional 159 shares in the last quarter. Quarry LP acquired a new position in RLI in the fourth quarter valued at approximately $108,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in RLI in the fourth quarter valued at approximately $120,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Stock Up 0.4%

RLI opened at $74.60 on Monday. The company has a market cap of $6.85 billion, a PE ratio of 19.92 and a beta of 0.72. RLI Corp. has a twelve month low of $68.50 and a twelve month high of $91.15. The company has a 50-day moving average price of $76.16 and a 200 day moving average price of $78.95. 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 (NYSE:RLI) last announced its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $36.73 million during the quarter, compared to analysts’ expectations of $442.20 million. RLI had a return on equity of 16.63% and a net margin of 19.53%. The business’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Sell-side analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from RLI’s previous quarterly dividend of $0.15. RLI’s payout ratio is 19.74%.

Wall Street Analyst Weigh In

RLI has been the subject of several recent research reports. Compass Point lowered shares of RLI from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Jefferies Financial Group cut shares of RLI from a “buy” rating to an “underperform” rating and cut their price objective for the company from $95.00 to $61.00 in a report on Monday, January 27th. JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Thursday, April 24th. Royal Bank of Canada cut their price target on 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 upgraded RLI from a “sell” rating to a “hold” rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two 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 an average target price of $78.60.

Insider Transactions at RLI

In related 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 sale, the director now owns 23,312 shares of the company’s stock, valued at approximately $1,745,835.68. This trade represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jordan W. Graham sold 1,500 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 12,854 shares in the company, valued at $961,093.58. This trade represents a 10.45% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.16% of the company’s stock.

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.