Illinois Municipal Retirement Fund increased its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 100.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,526 shares of the insurance provider's stock after acquiring an additional 9,763 shares during the quarter. Illinois Municipal Retirement Fund's holdings in RLI were worth $1,569,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after acquiring an additional 159 shares during the last quarter. Alpha DNA Investment Management LLC boosted its stake 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 buying an additional 189 shares during the last quarter. Corient Private Wealth LLC grew its holdings in RLI by 1.2% during the 4th quarter. Corient Private Wealth LLC now owns 17,265 shares of the insurance provider's stock valued at $2,846,000 after buying an additional 197 shares in the last quarter. Versant Capital Management Inc grew its holdings 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 buying an additional 203 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in RLI by 0.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 33,154 shares of the insurance provider's stock worth $5,465,000 after acquiring an additional 223 shares during the last quarter. Institutional investors own 77.89% of the company's stock.
RLI Trading Down 1.0%
RLI traded down $0.70 during trading on Tuesday, reaching $71.52. The company had a trading volume of 510,252 shares, compared to its average volume of 471,165. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06. The business has a 50 day simple moving average of $74.30 and a 200-day simple moving average of $76.20. The stock has a market cap of $6.56 billion, a P/E ratio of 23.53 and a beta of 0.70. RLI Corp. has a 52 week low of $68.50 and a 52 week high of $91.14.
RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS 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 firm had revenue of $36.73 million during the quarter, compared to analysts' expectations of $442.20 million. During the same period in the previous year, the company earned $0.95 EPS. The firm's revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.
RLI Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 30th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.89%. This is an increase from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 30th. RLI's dividend payout ratio is presently 21.05%.
Analysts Set New Price Targets
A number of research analysts have recently commented on RLI shares. JMP Securities reiterated a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. 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. Based on data from MarketBeat.com, RLI presently has a consensus rating of "Hold" and a consensus price target of $78.60.
Read Our Latest Stock Report on RLI
RLI Company Profile
(
Free Report)
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.
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