Cetera Investment Advisers Has $1.28 Million Stock Position in RLI Corp. (NYSE:RLI)

Key Points

• Cetera Investment Advisers increased its stake in RLI Corp. by 128.3% during the 1st quarter, owning 15,943 shares worth approximately $1.28 million.
• RLI Corp. reported earnings of $0.84 per share for the last quarter, beating estimates by $0.09, with revenues up 20% to $562.28 million.
• The company recently raised its quarterly dividend to $0.16 per share, reflecting an annualized yield of 1.0% and a payout ratio of 18.34%.

Cetera Investment Advisers boosted its stake in RLI Corp. (NYSE:RLI - Free Report) by 128.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,943 shares of the insurance provider's stock after buying an additional 8,961 shares during the period. Cetera Investment Advisers' holdings in RLI were worth $1,281,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of RLI. Illinois Municipal Retirement Fund boosted its holdings in RLI by 100.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 19,526 shares of the insurance provider's stock valued at $1,569,000 after purchasing an additional 9,763 shares during the period. New York State Teachers Retirement System boosted its holdings in RLI by 99.6% in the 1st quarter. New York State Teachers Retirement System now owns 112,616 shares of the insurance provider's stock valued at $9,046,000 after purchasing an additional 56,208 shares during the period. Brown Advisory Inc. boosted its holdings in RLI by 100.0% in the 1st quarter. Brown Advisory Inc. now owns 13,224 shares of the insurance provider's stock valued at $1,062,000 after purchasing an additional 6,612 shares during the period. Golden State Wealth Management LLC raised its position in shares of RLI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock valued at $30,000 after buying an additional 186 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of RLI by 112.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,871 shares of the insurance provider's stock worth $311,000 after acquiring an additional 2,047 shares during the period. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Price Performance

NYSE:RLI traded down $0.16 on Thursday, hitting $67.41. The company had a trading volume of 188,104 shares, compared to its average volume of 517,716. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 19.31 and a beta of 0.66. 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 firm has a 50 day moving average of $70.28 and a two-hundred day moving average of $73.84. RLI Corp. has a 52 week low of $65.14 and a 52 week high of $91.14.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The insurance provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. The business had revenue of $562.28 million during the quarter, compared to the consensus estimate of $445.55 million. RLI had a net margin of 17.81% and a return on equity of 15.82%. The firm's revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 EPS. On average, research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jennifer L. Klobnak acquired 3,000 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was acquired at an average price of $69.15 per share, with a total value of $207,450.00. Following the purchase, the chief operating officer directly owned 98,450 shares in the company, valued at approximately $6,807,817.50. This trade represents a 3.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RLI. Compass Point downgraded shares of RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Finally, Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $78.60.

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.