Citadel Advisors LLC lowered its stake in RLI Corp. (NYSE:RLI) by 54.9% in the 4th quarter, Holdings Channel reports. The firm owned 41,699 shares of the insurance provider’s stock after selling 50,709 shares during the period. Citadel Advisors LLC’s holdings in RLI were worth $2,529,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in RLI. Zions Bancorporation bought a new stake in shares of RLI in the 3rd quarter worth about $145,000. CIBC Asset Management Inc bought a new stake in shares of RLI in the 4th quarter worth about $225,000. Centiva Capital LP bought a new stake in shares of RLI in the 4th quarter worth about $244,000. AE Wealth Management LLC bought a new stake in shares of RLI in the 4th quarter worth about $262,000. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of RLI in the 3rd quarter worth about $275,000. 85.09% of the stock is owned by institutional investors.
Shares of RLI Corp. (RLI) opened at $61.23 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.34. RLI Corp. has a 1 year low of $50.34 and a 1 year high of $65.68. The firm has a market cap of $2,708.69, a PE ratio of 38.27 and a beta of 1.26.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Wednesday, February 28th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Tuesday, February 27th. RLI’s dividend payout ratio is presently 35.44%.
RLI has been the subject of several research analyst reports. B. Riley reissued a “neutral” rating on shares of RLI in a research report on Monday, November 6th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $55.00 target price on shares of RLI in a research report on Wednesday, December 6th. Finally, Zacks Investment Research raised shares of RLI from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.67.
In other RLI news, Director Michael J. Stone sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $65.36, for a total transaction of $326,800.00. Following the completion of the transaction, the director now directly owns 9,000 shares of the company’s stock, valued at approximately $588,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Aaron Paul Diefenthaler sold 900 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $64.77, for a total transaction of $58,293.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,041 shares of company stock valued at $692,888. Insiders own 6.09% of the company’s stock.
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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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