Deutsche Bank AG Purchases 9,629 Shares of RLI Corp. $RLI

Key Points

• Deutsche Bank AG significantly increased its holdings in RLI Corp. by 108.7%, now owning a total of 18,487 shares worth $1.485 million after acquiring 9,629 additional shares in the first quarter.
• RLI Corp. reported a strong quarterly performance with earnings per share of $0.84, exceeding estimates by $0.09, and revenues of $562.28 million, up 20% year-over-year.
• RLI Corp. announced a quarterly dividend of $0.16 per share, reflecting an annualized dividend of $0.64 and a yield of 0.9%, with a payout ratio of 18.34%.

Deutsche Bank AG increased its position in RLI Corp. (NYSE:RLI - Free Report) by 108.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,487 shares of the insurance provider's stock after acquiring an additional 9,629 shares during the quarter. Deutsche Bank AG's holdings in RLI were worth $1,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its position in shares of RLI by 100.0% in 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 last quarter. Versant Capital Management Inc boosted its stake in RLI by 100.0% during the 1st 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 boosted its stake in RLI by 88.5% during the 1st 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 grew its holdings in RLI by 100.0% in the 1st quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider's stock valued at $39,000 after buying an additional 240 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in RLI by 56.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider's stock worth $43,000 after buying an additional 192 shares during the period. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Stock Performance

RLI opened at $68.5550 on Friday. The stock's 50 day simple moving average is $69.37 and its 200-day simple moving average is $73.55. 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 stock has a market cap of $6.30 billion, a PE ratio of 19.64 and a beta of 0.66. RLI Corp. has a 1 year low of $65.14 and a 1 year high of $91.14.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The insurance provider reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. The firm had revenue of $562.28 million for 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 business's revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.72 earnings per share. Sell-side analysts forecast that RLI Corp. will post 3.08 EPS for the current year.

RLI Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 29th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 29th. RLI's payout ratio is 18.34%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RLI. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Compass Point downgraded shares of RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $78.60.

Insiders Place Their Bets

In other RLI news, COO Jennifer L. Klobnak purchased 3,000 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was purchased 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 trade represents a 3.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.16% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.