Callan Family Office LLC Takes $1.20 Million Position in RLI Corp. (NYSE:RLI)

Callan Family Office LLC acquired a new stake in shares of RLI Corp. (NYSE:RLI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,272 shares of the insurance provider’s stock, valued at approximately $1,199,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in RLI in the fourth quarter valued at approximately $31,000. Versant Capital Management Inc grew its holdings in RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in RLI by 76.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in RLI in the 4th quarter worth $56,000. Finally, GAMMA Investing LLC grew its holdings in RLI by 31.8% in the 4th quarter. GAMMA Investing LLC now owns 1,035 shares of the insurance provider’s stock worth $171,000 after acquiring an additional 250 shares during the last quarter. Institutional investors own 77.89% of the company’s stock.

Insider Activity at RLI

In other RLI news, Director David B. Duclos purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average cost of $72.50 per share, with a total value of $145,000.00. Following the transaction, the director now directly owns 7,215 shares in the company, valued at approximately $523,087.50. The trade was a 38.35 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Stone sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value of $33,910.00. Following the transaction, the director now directly owns 429,622 shares of the company’s stock, valued at approximately $36,421,205.05. This trade represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 11,200 shares of company stock valued at $805,774 in the last three months. Company insiders own 5.09% of the company’s stock.

RLI Stock Up 0.4 %

RLI stock opened at $75.95 on Friday. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 20.28 and a beta of 0.46. 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 business’s 50 day moving average price is $76.30 and its two-hundred day moving average price is $79.34. RLI Corp. has a fifty-two week low of $67.53 and a fifty-two week high of $91.14.

RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a return on equity of 16.63% and a net margin of 19.53%. As a group, 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 Thursday, March 20th. Investors of record on Friday, February 28th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. This is a positive change from RLI’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, February 28th. RLI’s dividend payout ratio (DPR) is presently 16.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RLI. StockNews.com raised shares of RLI from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Jefferies Financial Group lowered RLI from a “buy” rating to an “underperform” rating and lowered their price target for the company from $95.00 to $61.00 in a research report on Monday, January 27th. Compass Point lowered their price target on RLI from $185.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Keefe, Bruyette & Woods lowered their price target on RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Royal Bank of Canada cut 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, RLI has an average rating of “Hold” and a consensus target price of $82.80.

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.