Sei Investments Co. Buys 13,080 Shares of RLI Corp. (NYSE:RLI)

Sei Investments Co. boosted its position in RLI Corp. (NYSE:RLI) by 20.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,855 shares of the insurance provider’s stock after buying an additional 13,080 shares during the period. Sei Investments Co. owned approximately 0.08% of RLI worth $12,502,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in RLI. Sciencast Management LP bought a new stake in shares of RLI during the fourth quarter valued at approximately $270,000. Whittier Trust Co. of Nevada Inc. raised its holdings in RLI by 5.1% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 47,414 shares of the insurance provider’s stock worth $7,815,000 after buying an additional 2,288 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of RLI by 3.7% in the fourth quarter. Whittier Trust Co. now owns 90,816 shares of the insurance provider’s stock valued at $14,969,000 after buying an additional 3,236 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of RLI by 5.3% during the fourth quarter. Teacher Retirement System of Texas now owns 52,759 shares of the insurance provider’s stock valued at $8,696,000 after buying an additional 2,666 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of RLI during the fourth quarter worth about $120,000. 77.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RLI

In other news, CEO Craig W. Kliethermes acquired 5,000 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were acquired at an average cost of $71.35 per share, for a total transaction of $356,750.00. Following the purchase, the chief executive officer now owns 139,190 shares of the company’s stock, valued at approximately $9,931,206.50. The trade was a 3.73 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey D. Fick bought 2,000 shares of the business’s stock in a transaction on Friday, January 24th. The shares were acquired at an average price of $72.13 per share, with a total value of $144,260.00. Following the transaction, the insider now directly owns 142,061 shares of the company’s stock, valued at approximately $10,246,859.93. This trade represents a 1.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 11,200 shares of company stock worth $805,774. Insiders own 5.09% of the company’s stock.

RLI Stock Up 0.9 %

Shares of NYSE:RLI opened at $79.99 on Friday. RLI Corp. has a 1 year low of $67.53 and a 1 year high of $91.15. The company has a market capitalization of $7.34 billion, a PE ratio of 21.36 and a beta of 0.39. The business has a fifty day moving average price of $75.63 and a two-hundred day moving average price of $79.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38.

RLI (NYSE:RLI) last posted its quarterly earnings results 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 net margin of 19.53% and a return on equity of 16.63%. Analysts forecast that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Friday, February 28th. This is a boost from RLI’s previous quarterly dividend of $0.15. RLI’s payout ratio is 16.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RLI shares. Jefferies Financial Group downgraded RLI from a “buy” rating to an “underperform” rating and cut their price target for the company from $95.00 to $61.00 in a research note on Monday, January 27th. StockNews.com raised RLI from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Keefe, Bruyette & Woods lowered their price target on RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Royal Bank of Canada cut their price objective on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Finally, Compass Point reduced their target price on shares of RLI from $185.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $82.80.

About RLI

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.