Magnus Financial Group LLC acquired a new stake in shares of RLI Corp (NYSE:RLI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,180 shares of the insurance provider’s stock, valued at approximately $219,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Strs Ohio lifted its position in RLI by 42.1% in the 3rd quarter. Strs Ohio now owns 2,700 shares of the insurance provider’s stock valued at $212,000 after acquiring an additional 800 shares in the last quarter. WINTON GROUP Ltd bought a new stake in RLI during the 3rd quarter worth about $234,000. Los Angeles Capital Management & Equity Research Inc. lifted its position in RLI by 162.1% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,968 shares of the insurance provider’s stock worth $2,433,000 after buying an additional 19,153 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in RLI during the 3rd quarter worth about $342,000. Finally, JPMorgan Chase & Co. lifted its position in RLI by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 963,386 shares of the insurance provider’s stock worth $75,703,000 after buying an additional 16,446 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.
Shares of RLI stock opened at $69.52 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $3.12 billion, a PE ratio of 33.91 and a beta of 0.93. RLI Corp has a 52-week low of $60.96 and a 52-week high of $79.98.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Thursday, February 28th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.27%. RLI’s payout ratio is 42.93%.
RLI has been the topic of several analyst reports. Compass Point initiated coverage on shares of RLI in a research report on Tuesday, January 15th. They set a “sell” rating and a $48.00 price target on the stock. TheStreet cut shares of RLI from a “b” rating to a “c” rating in a research report on Wednesday, January 23rd. Finally, Zacks Investment Research reissued a “hold” rating on shares of RLI in a research report on Monday, December 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. RLI presently has an average rating of “Hold” and a consensus target price of $63.50.
In other news, Director Michael J. Stone sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $70.44, for a total value of $704,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Stone sold 1,540 shares of the company’s stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $67.07, for a total transaction of $103,287.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,540 shares of company stock worth $1,069,408. 5.54% of the stock is owned by insiders.
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RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.
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