CX Institutional Invests $281,000 in RLI Corp. (NYSE:RLI)

CX Institutional bought a new position in shares of RLI Corp. (NYSE:RLI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,501 shares of the insurance provider's stock, valued at approximately $281,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of RLI by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 4,608,243 shares of the insurance provider's stock valued at $759,577,000 after buying an additional 41,884 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of RLI by 1.5% during the fourth quarter. Neuberger Berman Group LLC now owns 1,331,526 shares of the insurance provider's stock worth $219,475,000 after purchasing an additional 19,695 shares during the period. Geode Capital Management LLC lifted its holdings in shares of RLI by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 1,024,518 shares of the insurance provider's stock valued at $168,907,000 after purchasing an additional 116,088 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of RLI by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 941,185 shares of the insurance provider's stock valued at $155,136,000 after purchasing an additional 7,609 shares during the last quarter. Finally, Port Capital LLC boosted its position in shares of RLI by 0.9% in the 4th quarter. Port Capital LLC now owns 766,668 shares of the insurance provider's stock valued at $126,370,000 after purchasing an additional 6,680 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RLI has been the subject of several recent analyst reports. Compass Point cut shares of RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods reduced their price objective on RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $78.60.

RLI Stock Performance

RLI traded up $0.15 during midday trading on Monday, reaching $73.21. The company's stock had a trading volume of 14,754 shares, compared to its average volume of 373,198. The company has a fifty day simple moving average of $75.27 and a 200 day simple moving average of $77.24. The stock has a market cap of $6.72 billion, a P/E ratio of 19.56 and a beta of 0.70. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. RLI Corp. has a twelve month low of $68.50 and a twelve month high of $91.15.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The firm had revenue of $36.73 million during the quarter, compared to analysts' expectations of $442.20 million. RLI had a return on equity of 16.63% and a net margin of 19.53%. The company's revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 EPS. Research analysts expect that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 30th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, May 30th. This is a boost from RLI's previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.87%. RLI's dividend payout ratio is presently 21.05%.

RLI 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.