Ausbil Investment Management Ltd lifted its position in RLI Corp. (NYSE:RLI - Free Report) by 155.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,842 shares of the insurance provider's stock after buying an additional 6,604 shares during the period. Ausbil Investment Management Ltd's holdings in RLI were worth $871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in RLI by 100.0% in the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 203 shares during the period. Farther Finance Advisors LLC increased its position in shares of RLI by 88.5% during the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 224 shares during the last quarter. ORG Partners LLC lifted its stake in shares of RLI by 100.0% in the 1st quarter. ORG Partners LLC now owns 566 shares of the insurance provider's stock worth $46,000 after purchasing an additional 283 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of RLI in the 4th quarter worth approximately $56,000. Finally, Fifth Third Bancorp boosted its holdings in shares of RLI by 132.4% in the first quarter. Fifth Third Bancorp now owns 739 shares of the insurance provider's stock worth $59,000 after buying an additional 421 shares during the last quarter. Institutional investors own 77.89% of the company's stock.
RLI Stock Up 0.7%
Shares of RLI stock opened at $72.05 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35. RLI Corp. has a one year low of $68.50 and a one year high of $91.15. The company's fifty day moving average price is $74.91 and its 200-day moving average price is $76.72. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 23.70 and a beta of 0.70.
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 analysts' consensus estimates of $0.88 by $0.04. RLI had a return on equity of 16.26% and a net margin of 16.22%. The business had revenue of $36.73 million for the quarter, compared to analysts' expectations of $442.20 million. During the same period last year, the firm earned $0.95 earnings per share. The business's quarterly revenue was down 8.3% on a year-over-year basis. Sell-side analysts expect that RLI Corp. will post 3.08 EPS for the current fiscal year.
RLI Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Friday, May 30th. This is an increase from RLI's previous quarterly dividend of $0.15. RLI's dividend payout ratio (DPR) is 21.05%.
Analyst Upgrades and Downgrades
RLI has been the subject of a number of research reports. Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. 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. Compass Point cut RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Finally, JMP Securities reissued a "market perform" rating on shares of RLI in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $78.60.
Read Our Latest Report on RLI
RLI Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding RLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RLI Corp. (NYSE:RLI - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider RLI, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RLI wasn't on the list.
While RLI currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
