Aquatic Capital Management LLC Raises Stock Position in RLI Corp. (NYSE:RLI)

Aquatic Capital Management LLC grew its holdings in RLI Corp. (NYSE:RLI) by 319.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,190 shares of the insurance provider’s stock after purchasing an additional 3,190 shares during the quarter. Aquatic Capital Management LLC’s holdings in RLI were worth $691,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RLI. Versant Capital Management Inc boosted its position in RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after buying an additional 71 shares during the period. Brookstone Capital Management raised its stake in shares of RLI by 7.5% in the fourth quarter. Brookstone Capital Management now owns 1,827 shares of the insurance provider’s stock valued at $301,000 after acquiring an additional 127 shares in the last quarter. Everhart Financial Group Inc. boosted its holdings in RLI by 10.0% in the fourth quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider’s stock valued at $269,000 after purchasing an additional 148 shares during the period. EverSource Wealth Advisors LLC grew its stake in RLI by 47.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock worth $82,000 after purchasing an additional 159 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in RLI by 9.5% during the 4th quarter. Atomi Financial Group Inc. now owns 1,875 shares of the insurance provider’s stock worth $309,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Stock Performance

NYSE RLI opened at $73.19 on Friday. The company has a fifty day moving average of $76.33 and a two-hundred day moving average of $79.23. The company has a market capitalization of $6.72 billion, a PE ratio of 19.54 and a beta of 0.49. RLI Corp. has a 1 year low of $68.50 and a 1 year high of $91.15. 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 released its quarterly earnings results 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 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 EPS. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. As a group, analysts expect that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 was Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.82%. RLI’s dividend payout ratio is 19.74%.

Wall Street Analysts Forecast Growth

RLI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lowered their price objective on RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Royal Bank of Canada dropped their price objective on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Thursday, April 24th. Compass Point lowered RLI from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Finally, Jefferies Financial Group downgraded RLI from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $95.00 to $61.00 in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $78.60.

Insiders Place Their Bets

In other news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $74.89, for a total transaction of $214,484.96. Following the completion of the sale, the director now owns 23,312 shares in the company, valued at approximately $1,745,835.68. This represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jordan W. Graham sold 1,500 shares of the business’s stock in a transaction dated 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 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. 2.16% of the stock is currently owned by insiders.

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.