Erste Asset Management GmbH Has $7.28 Million Stock Holdings in RLI Corp. $RLI

Key Points

• Erste Asset Management GmbH increased its stake in RLI Corp. by 95.6% during the first quarter, owning 90,979 shares valued at approximately $7.28 million.
• Institutional investors collectively hold 77.89% of RLI's stock, with notable increases from firms like HSBC Holdings, Wellington Management, and Northern Trust during the same period.
• RLI Corp. reported earnings of $0.84 per share for the last quarter, outperforming analyst expectations, and announced a quarterly dividend of $0.16 per share to be paid on September 19th.

Erste Asset Management GmbH raised its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 95.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,979 shares of the insurance provider's stock after purchasing an additional 44,465 shares during the period. Erste Asset Management GmbH owned 0.10% of RLI worth $7,281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its holdings in RLI by 255.2% during the first quarter. Hsbc Holdings PLC now owns 11,321 shares of the insurance provider's stock valued at $909,000 after purchasing an additional 8,134 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of RLI in the first quarter worth $1,158,000. Wellington Management Group LLP grew its stake in shares of RLI by 59.1% in the first quarter. Wellington Management Group LLP now owns 660,452 shares of the insurance provider's stock worth $53,054,000 after acquiring an additional 245,205 shares during the last quarter. QSV Equity Investors LLC grew its stake in shares of RLI by 99.5% in the first quarter. QSV Equity Investors LLC now owns 19,489 shares of the insurance provider's stock worth $1,566,000 after acquiring an additional 9,722 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of RLI by 96.3% in the first quarter. Northern Trust Corp now owns 923,081 shares of the insurance provider's stock worth $74,151,000 after acquiring an additional 452,857 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JMP Securities restated a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of RLI from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Compass Point downgraded shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $78.60.

Insider Activity

In related news, COO Jennifer L. Klobnak acquired 3,000 shares of the business's stock in a transaction on Thursday, July 24th. The stock was bought at an average cost of $69.15 per share, with a total value of $207,450.00. Following the completion of the acquisition, the chief operating officer owned 98,450 shares in the company, valued at $6,807,817.50. The trade was a 3.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.16% of the company's stock.

RLI Stock Up 0.0%

RLI opened at $67.8540 on Thursday. RLI Corp. has a fifty-two week low of $65.14 and a fifty-two week high of $91.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35. The firm's fifty day moving average price is $69.58 and its two-hundred day moving average price is $73.65. The company has a market capitalization of $6.23 billion, a P/E ratio of 19.44 and a beta of 0.66.

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. RLI had a net margin of 17.81% and a return on equity of 15.82%. 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 earned $1.72 earnings per share. The business's revenue was up 20.0% compared to the same quarter last year. On average, analysts anticipate that RLI Corp. will post 3.08 EPS for the current year.

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. RLI's dividend payout ratio (DPR) is presently 18.34%.

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.

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.