Cwm LLC Has $636,000 Stock Holdings in RLI Corp. (NYSE:RLI)

CWM LLC raised its stake in RLI Corp. (NYSE:RLI - Free Report) by 98.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 7,922 shares of the insurance provider's stock after buying an additional 3,930 shares during the quarter. CWM LLC's holdings in RLI were worth $636,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RLI. Golden State Wealth Management LLC increased its holdings in shares of RLI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 186 shares during the period. Versant Capital Management Inc increased its holdings in shares of RLI by 100.0% during the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 203 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of RLI by 88.5% during the first 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 period. Compass Wealth Management LLC increased its holdings in shares of RLI by 100.0% during the first quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 240 shares during the period. Finally, ORG Partners LLC increased its holdings in shares of RLI by 100.0% during the first quarter. ORG Partners LLC now owns 566 shares of the insurance provider's stock valued at $46,000 after purchasing an additional 283 shares during the period. 77.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

RLI Stock Down 0.0%

NYSE RLI traded down $0.00 on Friday, reaching $67.78. The stock had a trading volume of 846,174 shares, compared to its average volume of 742,861. The business has a 50 day moving average price of $72.62 and a 200 day moving average price of $74.68. The company has a current ratio of 0.34, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. RLI Corp. has a 1 year low of $67.12 and a 1 year high of $91.14. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 19.42 and a beta of 0.67.

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

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 30th were paid a $0.16 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.94%. This is an increase from RLI's previous quarterly dividend of $0.15. RLI's payout ratio is 18.34%.

Analyst Upgrades and Downgrades

RLI has been the topic of a number of research analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price target on shares of RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Compass Point downgraded RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. One 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $78.60.

About RLI

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.