6,833 Shares in RLI Corp. (NYSE:RLI) Bought by Banque Pictet & Cie SA

Banque Pictet & Cie SA acquired 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. The firm acquired 6,833 shares of the insurance provider's stock, valued at approximately $549,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Illinois Municipal Retirement Fund boosted its stake in RLI by 100.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 19,526 shares of the insurance provider's stock worth $1,569,000 after acquiring an additional 9,763 shares during the last quarter. New York State Teachers Retirement System raised its holdings in RLI by 99.6% during the 1st quarter. New York State Teachers Retirement System now owns 112,616 shares of the insurance provider's stock worth $9,046,000 after buying an additional 56,208 shares during the period. Golden State Wealth Management LLC raised its holdings in RLI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock worth $30,000 after buying an additional 186 shares during the period. CX Institutional acquired a new stake in RLI during the 1st quarter worth approximately $281,000. Finally, QRG Capital Management Inc. raised its holdings in RLI by 70.0% during the 1st quarter. QRG Capital Management Inc. now owns 9,019 shares of the insurance provider's stock worth $724,000 after buying an additional 3,714 shares during the period. Institutional investors own 77.89% of the company's stock.

Analyst Upgrades and Downgrades

RLI has been the topic of several research analyst reports. Compass Point downgraded shares of RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. JMP Securities restated a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Wall Street Zen upgraded shares of RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $78.60.

RLI Stock Down 0.8%

Shares of NYSE RLI traded down $0.59 during midday trading on Friday, reaching $70.13. The company's stock had a trading volume of 512,660 shares, compared to its average volume of 392,458. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. RLI Corp. has a fifty-two week low of $69.16 and a fifty-two week high of $91.15. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 23.07 and a beta of 0.67. The stock has a 50 day simple moving average of $73.62 and a 200-day simple moving average of $75.49.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $442.20 million. During the same period last year, the company earned $0.95 earnings per share. The firm's revenue was down 8.3% compared to the same quarter last year. Equities research analysts predict that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.91%. This is an increase from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 30th. RLI's 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.