EULAV Asset Management Acquires 207,000 Shares of RLI Corp. (NYSE:RLI)

EULAV Asset Management boosted its stake in RLI Corp. (NYSE:RLI - Free Report) by 100.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 414,000 shares of the insurance provider's stock after buying an additional 207,000 shares during the period. EULAV Asset Management owned 0.45% of RLI worth $33,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in RLI in the fourth quarter worth about $56,000. Golden State Wealth Management LLC lifted 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 last quarter. Versant Capital Management Inc lifted 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 last quarter. Farther Finance Advisors LLC lifted 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 last quarter. Finally, Compass Wealth Management LLC lifted 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 last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Stock Down 0.7%

NYSE RLI traded down $0.53 during mid-day trading on Monday, reaching $71.17. The stock had a trading volume of 488,464 shares, compared to its average volume of 388,019. RLI Corp. has a 1 year low of $68.50 and a 1 year high of $91.15. The stock has a market cap of $6.53 billion, a PE ratio of 23.41 and a beta of 0.67. The company has a fifty day moving average price of $73.91 and a 200 day moving average price of $75.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $442.20 million. During the same period in the previous year, the business earned $0.95 EPS. The firm's revenue for the quarter was down 8.3% on a year-over-year basis. On average, research analysts expect that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were issued a $0.16 dividend. This is a positive change from RLI's previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Friday, May 30th. RLI's payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

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