Avior Wealth Management LLC raised its position in RLI Corp. (NYSE:RLI - Free Report) by 100.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,702 shares of the insurance provider's stock after buying an additional 5,351 shares during the quarter. Avior Wealth Management LLC's holdings in RLI were worth $860,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 acquiring an additional 41,884 shares in the last quarter. Neuberger Berman Group LLC lifted its position in RLI by 1.5% in the fourth quarter. Neuberger Berman Group LLC now owns 1,331,526 shares of the insurance provider's stock valued at $219,475,000 after purchasing an additional 19,695 shares during the period. Geode Capital Management LLC lifted its position in RLI by 12.8% in 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 period. Dimensional Fund Advisors LP boosted its holdings in RLI by 0.8% in the 4th 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 in the last quarter. Finally, Port Capital LLC increased its position in RLI by 0.9% during the 4th quarter. Port Capital LLC now owns 766,668 shares of the insurance provider's stock worth $126,370,000 after purchasing an additional 6,680 shares during the period. Hedge funds and other institutional investors own 77.89% of the company's stock.
RLI Price Performance
Shares of NYSE:RLI traded down $1.83 during midday trading on Wednesday, hitting $71.32. 413,688 shares of the stock were exchanged, compared to its average volume of 377,754. RLI Corp. has a twelve month low of $68.50 and a twelve month high of $91.15. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average price of $74.74 and a 200-day moving average price of $76.61. The stock has a market cap of $6.55 billion, a P/E ratio of 23.46 and a beta of 0.70.
RLI (NYSE:RLI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. RLI had a net margin of 16.22% and a return on equity of 16.26%. The company had revenue of $36.73 million during the quarter, compared to analysts' expectations of $442.20 million. During the same quarter in the previous year, the business posted $0.95 earnings per share. The firm's quarterly revenue was down 8.3% compared to the same quarter last year. On average, research analysts forecast that RLI Corp. will post 3.08 earnings per share for the current year.
RLI Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were given a dividend of $0.16 per share. This is an increase from RLI's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Friday, May 30th. RLI's payout ratio is currently 21.05%.
Analyst Upgrades and Downgrades
A number of research firms have commented on RLI. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods cut their price target on shares of RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Compass Point cut shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, JMP Securities restated a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $78.60.
Get Our Latest Research Report on RLI
About RLI
(
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.
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