Avior Wealth Management LLC Purchases 5,351 Shares of RLI Corp. (NYSE:RLI)

Avior Wealth Management LLC raised its stake in RLI Corp. (NYSE:RLI - Free Report) by 100.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,702 shares of the insurance provider's stock after acquiring an additional 5,351 shares during the period. Avior Wealth Management LLC's holdings in RLI were worth $860,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RLI. 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. Retirement Systems of Alabama raised its holdings in RLI by 111.3% in the 1st quarter. Retirement Systems of Alabama now owns 244,502 shares of the insurance provider's stock worth $19,641,000 after purchasing an additional 128,802 shares during the period. Blue Trust Inc. raised its holdings in RLI by 1,077.6% in the 1st quarter. Blue Trust Inc. now owns 789 shares of the insurance provider's stock worth $63,000 after purchasing an additional 722 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in RLI by 69.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,146 shares of the insurance provider's stock worth $253,000 after purchasing an additional 1,285 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in RLI by 415.1% in the 1st quarter. State of Alaska Department of Revenue now owns 34,745 shares of the insurance provider's stock worth $2,790,000 after purchasing an additional 28,000 shares during the period. 77.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Compass Point downgraded shares of RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. JMP Securities reissued a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods decreased their target price on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $78.60.

RLI Price Performance

NYSE RLI traded up $0.53 on Friday, reaching $72.05. The company had a trading volume of 794,102 shares, compared to its average volume of 376,712. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $6.61 billion, a PE ratio of 23.70 and a beta of 0.70. The firm's 50 day moving average price is $74.91 and its 200 day moving average price is $76.72. RLI Corp. has a 12 month low of $68.50 and a 12 month high of $91.15.

RLI (NYSE:RLI - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. RLI had a return on equity of 16.26% and a net margin of 16.22%. The firm had revenue of $36.73 million for the quarter, compared to analysts' expectations of $442.20 million. During the same period in the previous year, the firm posted $0.95 earnings per share. The business's revenue was down 8.3% compared to the same quarter last year. As a group, equities analysts predict 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. Shareholders of record on Friday, May 30th were paid a dividend of $0.16 per share. This is a boost from RLI's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Friday, May 30th. RLI's payout ratio is presently 21.05%.

RLI Company 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.