In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Rli Corp. (NYSE:RLI) reported that Kayne Anderson Rudnick Investment Management Llc. has picked up 1,565,598 of common stock as of 2017-02-09.
The acquisition brings the aggregate amount owned by Kayne Anderson Rudnick Investment Management Llc. to a total of 1,565,598 representing a 3.57% stake in the company.
For those not familiar with the company, RLI Corp. is a specialty insurance company. The Company operates through three segments: Casualty, Property and Surety. The Casualty segment consists of general liability, personal umbrella, transportation, executive products and commercial umbrella coverages, as well as package business and other specialty coverages. The property segment comprise primarily of commercial fire, earthquake, difference in conditions, marine and facultative and treaty reinsurance including crop. The surety segment specializes in writing small-to-large commercial and contract surety coverages, as well as those for the energy, petrochemical and refining industries. It underwrites selected property and casualty insurance through subsidiaries collectively known as RLI Insurance Group. It conducts its operations through approximately three insurance companies: RLI Insurance Company, Mt. Hawley Insurance and Company and Contractors Bonding and Insurance Company.
A glance at Rli Corp (NYSE:RLI)’s key stats reveals a current market capitalization of 2.61 billion based on 43.94 million shares outstanding and a price at last close of $59.50 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-18, Restrepo picked up 600 at a purchase price of $62.89. This brings their total holding to 1,800 as of the date of the filing.
On the sell side, the most recent transaction saw Pontious unload 1,008 shares at a sale price of $61.87. This brings their total holding to 273,347.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Rli Corp (NYSE:RLI) as things move forward to see if its progress aligns with these transactions.
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