Victory Capital Management Inc. raised its stake in RLI Corp. (NYSE:RLI) by 1.2% in the 4th quarter, HoldingsChannel reports. The fund owned 426,060 shares of the insurance provider’s stock after buying an additional 5,123 shares during the quarter. Victory Capital Management Inc.’s holdings in RLI were worth $25,845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Stifel Financial Corp raised its holdings in RLI by 0.4% in the 2nd quarter. Stifel Financial Corp now owns 20,371 shares of the insurance provider’s stock valued at $1,118,000 after acquiring an additional 91 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in RLI by 0.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 32,638 shares of the insurance provider’s stock valued at $1,783,000 after acquiring an additional 236 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in RLI by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,117 shares of the insurance provider’s stock valued at $1,646,000 after acquiring an additional 563 shares in the last quarter. Flinton Capital Management LLC raised its holdings in RLI by 60.3% in the 2nd quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock valued at $109,000 after acquiring an additional 752 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in RLI by 6.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the insurance provider’s stock valued at $1,013,000 after acquiring an additional 1,000 shares in the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on the company. Zacks Investment Research raised RLI from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $55.00 price target on shares of RLI in a research note on Wednesday, December 6th. B. Riley reiterated a “neutral” rating on shares of RLI in a research note on Monday, November 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $51.00 price target (up previously from $50.00) on shares of RLI in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $57.67.

In other news, Director Michael J. Stone sold 2,000 shares of RLI stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.33, for a total value of $120,660.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Aaron Paul Diefenthaler sold 900 shares of RLI stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $64.77, for a total value of $58,293.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,041 shares of company stock worth $692,888. Corporate insiders own 6.09% of the company’s stock.

RLI Corp. (NYSE RLI) opened at $60.79 on Monday. RLI Corp. has a 52 week low of $50.34 and a 52 week high of $65.68. The company has a quick ratio of 0.35, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2,678.40, a price-to-earnings ratio of 37.99 and a beta of 1.26.

RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. RLI had a return on equity of 8.21% and a net margin of 13.17%. The company had revenue of $202.74 million for the quarter, compared to analyst estimates of $197.85 million. sell-side analysts expect that RLI Corp. will post 2.22 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Wednesday, February 28th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.38%. RLI’s payout ratio is 35.44%.

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About RLI

RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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