Coldstream Capital Management Inc. Has $2.37 Million Stock Position in RLI Corp. (NYSE:RLI)

Coldstream Capital Management Inc. boosted its holdings in RLI Corp. (NYSE:RLI) by 5.3% in the fourth quarter, HoldingsChannel reports. The firm owned 14,374 shares of the insurance provider’s stock after purchasing an additional 725 shares during the period. Coldstream Capital Management Inc.’s holdings in RLI were worth $2,369,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RLI. Norges Bank bought a new stake in shares of RLI in the 4th quarter valued at $80,476,000. Wellington Management Group LLP grew its holdings in RLI by 580.4% in the fourth quarter. Wellington Management Group LLP now owns 415,247 shares of the insurance provider’s stock worth $68,445,000 after purchasing an additional 354,219 shares during the period. Nepsis Inc. increased its stake in RLI by 138.8% in the fourth quarter. Nepsis Inc. now owns 296,526 shares of the insurance provider’s stock valued at $48,876,000 after purchasing an additional 172,370 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of RLI by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 1,024,518 shares of the insurance provider’s stock valued at $168,907,000 after purchasing an additional 116,088 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of RLI during the 4th quarter worth about $17,854,000. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Stock Down 3.0 %

Shares of NYSE:RLI opened at $72.99 on Friday. The business’s 50 day moving average is $76.41 and its 200 day moving average is $79.38. RLI Corp. has a 12-month low of $68.50 and a 12-month high of $91.15. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 19.49 and a beta of 0.49. 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 posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. RLI had a net margin of 19.53% and a return on equity of 16.63%. The firm had revenue of $36.73 million for the quarter, compared to the consensus estimate of $442.20 million. On average, sell-side analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The company 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 represents a $0.60 dividend on an annualized basis and a yield of 0.82%. This is an increase from RLI’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, February 28th. RLI’s dividend payout ratio is presently 19.74%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RLI. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Thursday. Keefe, Bruyette & Woods decreased their price objective on RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Royal Bank of Canada cut their target price on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Compass Point lowered shares of RLI from a “strong-buy” rating to a “hold” rating in a research note on Friday. Finally, Jefferies Financial Group downgraded shares of RLI from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $95.00 to $61.00 in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $78.60.

Insider Buying and Selling at RLI

In other news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the company’s 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 transaction, the director now directly owns 23,312 shares of the company’s stock, valued at $1,745,835.68. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David B. Duclos purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of $72.50 per share, with a total value of $145,000.00. Following the completion of the transaction, the director now directly owns 7,215 shares of the company’s stock, valued at $523,087.50. The trade was a 38.35 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.16% of the company’s stock.

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.