OMERS ADMINISTRATION Corp Purchases Shares of 2,600 RLI Corp. (NYSE:RLI)

OMERS ADMINISTRATION Corp purchased a new position in shares of RLI Corp. (NYSE:RLI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,600 shares of the insurance provider’s stock, valued at approximately $429,000.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in RLI during the fourth quarter worth about $31,000. SBI Securities Co. Ltd. purchased a new position in shares of RLI during the 4th quarter worth about $56,000. EverSource Wealth Advisors LLC boosted its position in shares of RLI by 47.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock worth $82,000 after acquiring an additional 159 shares during the last quarter. Quarry LP purchased a new stake in RLI in the fourth quarter valued at approximately $108,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in RLI during the fourth quarter worth approximately $120,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

Insider Transactions at RLI

In related news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $74.89, for a total value of $214,484.96. Following the transaction, the director now owns 23,312 shares in the company, valued at approximately $1,745,835.68. The trade was a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jordan W. Graham sold 1,500 shares of the 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 directly owns 12,854 shares of the company’s stock, valued at $961,093.58. This represents a 10.45% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.16% of the company’s stock.

RLI Trading Up 1.2%

NYSE:RLI opened at $75.71 on Monday. The business’s 50-day moving average is $76.08 and its two-hundred day moving average is $78.83. The firm has a market capitalization of $6.95 billion, a PE ratio of 20.22 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 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 announced its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $36.73 million for the quarter, compared to the consensus estimate of $442.20 million. RLI had a return on equity of 16.63% and a net margin of 19.53%. The company’s revenue was down 8.3% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. Research analysts predict 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 will be paid on Friday, June 20th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.85%. This is a positive change from RLI’s previous quarterly dividend of $0.15. RLI’s dividend payout ratio (DPR) is currently 21.05%.

Wall Street Analyst Weigh In

RLI has been the topic of a number of research analyst reports. Compass Point lowered shares of RLI from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Thursday, April 24th. StockNews.com upgraded RLI from a “sell” rating to a “hold” rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods cut their price objective on RLI from $95.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Royal Bank of Canada decreased their target price on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, RLI has an average rating of “Hold” and an average price target of $78.60.

RLI Company 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.