UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $29.85 Million Stock Position in RLI Corp. (NYSE:RLI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of RLI Corp. (NYSE:RLI) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 181,118 shares of the insurance provider’s stock after purchasing an additional 24,536 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.20% of RLI worth $29,854,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jordan W. Graham sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $74.77, for a total transaction of $112,155.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JMP Securities restated a “market perform” rating on shares of RLI in a report on Thursday, April 24th. Compass Point lowered shares of RLI from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Jefferies Financial Group lowered shares of RLI from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $95.00 to $61.00 in a report on Monday, January 27th. Keefe, Bruyette & Woods lowered their target price on shares of RLI from $95.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. One research 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $78.60.

RLI Trading Up 1.0%

Shares of RLI stock opened at $74.86 on Tuesday. RLI Corp. has a 52-week low of $68.50 and a 52-week high of $91.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. The company has a 50-day simple moving average of $76.03 and a two-hundred day simple moving average of $78.55. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 19.99 and a beta of 0.72.

RLI (NYSE:RLI) last issued 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 business had revenue of $36.73 million during the quarter, compared to the consensus estimate of $442.20 million. During the same period in the prior year, the firm posted $0.95 EPS. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. Research analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 30th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.85%. This is an increase from RLI’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, May 30th. RLI’s dividend payout ratio is presently 21.05%.

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.