7,130 Shares in RLI Corp. (NYSE:RLI) Acquired by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of RLI Corp. (NYSE:RLI) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,130 shares of the insurance provider’s stock, valued at approximately $1,175,000.

Several other institutional investors and hedge funds have also bought and sold shares of RLI. Atomi Financial Group Inc. raised its holdings in shares of RLI by 9.5% during the fourth 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 last quarter. Nisa Investment Advisors LLC grew its position in RLI by 6.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 34,635 shares of the insurance provider’s stock worth $5,709,000 after purchasing an additional 2,200 shares during the period. Impact Partnership Wealth LLC purchased a new position in shares of RLI during the 4th quarter valued at about $211,000. Nepsis Inc. raised its stake in shares of RLI by 138.8% during the 4th quarter. Nepsis Inc. now owns 296,526 shares of the insurance provider’s stock valued at $48,876,000 after buying an additional 172,370 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of RLI by 44.7% in the 4th quarter. Blue Trust Inc. now owns 3,120 shares of the insurance provider’s stock valued at $484,000 after buying an additional 964 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Compass Point lowered RLI from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Jefferies Financial Group lowered 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 research report on Monday, January 27th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their target price on shares of RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada lowered their price target 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, RLI currently has a consensus rating of “Hold” and an average target price of $78.60.

RLI Stock Up 1.0%

Shares of RLI opened at $74.86 on Friday. The firm has a market cap of $6.87 billion, a P/E ratio of 19.99 and a beta of 0.72. RLI Corp. has a 12 month low of $68.50 and a 12 month high of $91.15. The stock’s 50 day moving average is $76.04 and its two-hundred day moving average is $78.69. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

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, beating analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $36.73 million for the quarter, compared to analysts’ expectations of $442.20 million. RLI had a net margin of 19.53% and a return on equity of 16.63%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 EPS. Analysts predict that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 30th will be given a $0.16 dividend. This is a positive change from RLI’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.85%. RLI’s dividend payout ratio (DPR) is 21.05%.

Insider Transactions at RLI

In other RLI news, Director Jordan W. Graham sold 1,500 shares of the firm’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 owns 12,854 shares in the company, valued at approximately $961,093.58. This trade represents a 10.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of RLI stock in a transaction on 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 trade represents a 10.94% decrease in their position. The disclosure for this sale can be found here. Corporate 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.