RLI Corp. (NYSE:RLI) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 100.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,460 shares of the insurance provider's stock after purchasing an additional 10,730 shares during the period. Handelsbanken Fonder AB's holdings in RLI were worth $1,724,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Everhart Financial Group Inc. boosted its holdings in shares of RLI by 10.0% in the 4th quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider's stock valued at $269,000 after acquiring an additional 148 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in RLI by 47.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after purchasing an additional 159 shares during the period. Alpha DNA Investment Management LLC lifted its position in RLI by 7.8% during the fourth quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider's stock valued at $432,000 after purchasing an additional 189 shares during the period. Corient Private Wealth LLC boosted its holdings in RLI by 1.2% in the fourth quarter. Corient Private Wealth LLC now owns 17,265 shares of the insurance provider's stock valued at $2,846,000 after purchasing an additional 197 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in RLI by 100.0% during the 1st quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock worth $33,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 77.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods decreased their price target on RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. JMP Securities restated a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. Finally, Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. One investment 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 has an average rating of "Hold" and an average price target of $78.60.

RLI Price Performance

RLI traded down $0.55 during trading on Wednesday, hitting $71.61. The company's stock had a trading volume of 227,288 shares, compared to its average volume of 375,100. 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 market capitalization of $6.57 billion, a price-to-earnings ratio of 23.61 and a beta of 0.70. The business's fifty day simple moving average is $75.19 and its 200 day simple moving average is $77.10. RLI Corp. has a twelve month low of $68.50 and a twelve month high of $91.15.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. The company had revenue of $36.73 million during the quarter, compared to analyst estimates of $442.20 million. RLI had a net margin of 16.22% and a return on equity of 16.26%. The firm's revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS. On average, equities research analysts forecast that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.89%. This is a boost from RLI's previous quarterly dividend of $0.15. RLI's payout ratio is currently 21.05%.

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.