AE Wealth Management LLC Buys Shares of 4,315 RLI Corp. (RLI)
AE Wealth Management LLC bought a new stake in RLI Corp. (NYSE:RLI) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,315 shares of the insurance provider’s stock, valued at approximately $262,000.
Several other institutional investors also recently modified their holdings of the company. Stifel Financial Corp raised its stake in shares of RLI by 0.4% in the 2nd quarter. Stifel Financial Corp now owns 20,371 shares of the insurance provider’s stock valued at $1,118,000 after purchasing an additional 91 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of RLI by 0.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 32,638 shares of the insurance provider’s stock valued at $1,783,000 after purchasing an additional 236 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of RLI by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,117 shares of the insurance provider’s stock valued at $1,646,000 after purchasing an additional 563 shares in the last quarter. Flinton Capital Management LLC raised its stake in shares of RLI by 60.3% in the 2nd quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock valued at $109,000 after purchasing an additional 752 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of RLI by 6.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the insurance provider’s stock valued at $1,013,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 84.03% of the company’s stock.
In other RLI news, VP Aaron Paul Diefenthaler sold 900 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $64.77, for a total value of $58,293.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Stone sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was 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 owns 9,000 shares of the company’s stock, valued at approximately $588,240. 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.
RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, January 24th. The insurance provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. RLI had a net margin of 13.17% and a return on equity of 8.21%. The business had revenue of $202.74 million during the quarter, compared to the consensus estimate of $197.85 million. research analysts expect that RLI Corp. will post 2.22 earnings per share for the current year.
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 1.38%. The ex-dividend date is Tuesday, February 27th. RLI’s dividend payout ratio is presently 35.44%.
RLI has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of RLI from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Monday, January 8th. Keefe, Bruyette & Woods set a $51.00 price objective on shares of RLI and gave the company a “hold” rating in a research report on Wednesday, October 18th. B. Riley reaffirmed a “neutral” rating on shares of RLI in a research report on Monday, November 6th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $51.00 price objective (up previously from $50.00) on shares of RLI in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. RLI presently has a consensus rating of “Hold” and an average price target of $57.67.
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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