RLI Corp. (NYSE:RLI) Shares Sold by Nepsis Inc.

Nepsis Inc. trimmed its stake in RLI Corp. (NYSE:RLI) by 8.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 271,551 shares of the insurance provider’s stock after selling 24,975 shares during the period. RLI comprises about 5.4% of Nepsis Inc.’s investment portfolio, making the stock its 4th biggest position. Nepsis Inc. owned about 0.30% of RLI worth $21,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Everhart Financial Group Inc. boosted its stake in RLI by 10.0% during the fourth quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider’s stock worth $269,000 after buying an additional 148 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in RLI by 47.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $82,000 after acquiring an additional 159 shares during the period. Golden State Wealth Management LLC acquired a new position in RLI in the fourth quarter worth about $31,000. Alpha DNA Investment Management LLC raised its position in RLI by 7.8% in the fourth quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider’s stock worth $432,000 after purchasing an additional 189 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its stake in RLI by 1.2% during the fourth quarter. Corient Private Wealth LLC now owns 17,265 shares of the insurance provider’s stock worth $2,846,000 after purchasing an additional 197 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Price Performance

RLI stock opened at $73.86 on Tuesday. The business’s fifty day moving average is $75.45 and its two-hundred day moving average is $77.71. 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 firm has a market cap of $6.78 billion, a P/E ratio of 19.72 and a beta of 0.70. RLI Corp. has a 52 week low of $68.50 and a 52 week high of $91.15.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.04. RLI had a net margin of 19.53% and a return on equity of 16.63%. The firm had revenue of $36.73 million during the quarter, compared to analysts’ expectations of $442.20 million. During the same quarter in the previous year, the company posted $0.95 EPS. RLI’s revenue was down 8.3% on a year-over-year basis. Equities research analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 30th will be given a dividend of $0.16 per share. This is a boost from RLI’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, May 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.87%. RLI’s payout ratio is currently 21.05%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RLI shares. JMP Securities reiterated a “market perform” rating on shares of RLI in a research note on Thursday, April 24th. Compass Point lowered RLI from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 25th. Keefe, Bruyette & Woods cut their price objective on RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $78.60.

Insider Buying and Selling

In related 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 value of $214,484.96. Following the sale, the director now directly owns 23,312 shares in the company, valued at $1,745,835.68. This trade represents a 10.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.16% of the stock is currently owned by insiders.

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.