16,908 Shares in RLI Corp. $RLI Purchased by Interval Partners LP

Key Points

• Interval Partners LP acquired a new stake in RLI Corp., purchasing 16,908 shares valued at approximately $1.36 million.
• RLI Corp. reported earnings of $0.84 EPS for the last quarter, exceeding analysts' expectations of $0.75 EPS, with revenue of $562.28 million.
• The company's quarterly dividend of $0.16 will be paid to shareholders on September 19th, reflecting a 1.0% yield.

Interval Partners LP bought a new position in shares of RLI Corp. (NYSE:RLI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 16,908 shares of the insurance provider's stock, valued at approximately $1,358,000.

Several other large investors have also made changes to their positions in the business. Golden State Wealth Management LLC increased its position 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 worth $30,000 after purchasing an additional 186 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of RLI by 100.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider's stock worth $32,000 after purchasing an additional 198 shares in the last quarter. Versant Capital Management Inc increased its position 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 worth $33,000 after purchasing an additional 203 shares in the last quarter. Farther Finance Advisors LLC increased its position 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 worth $38,000 after purchasing an additional 224 shares in the last quarter. Finally, Compass Wealth Management LLC increased its position 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 worth $39,000 after purchasing an additional 240 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RLI

In other RLI news, COO Jennifer L. Klobnak purchased 3,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were acquired at an average price of $69.15 per share, with a total value of $207,450.00. Following the purchase, the chief operating officer directly owned 98,450 shares in the company, valued at approximately $6,807,817.50. This trade represents a 3.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.16% of the stock is currently owned by company insiders.

RLI Trading Up 0.5%

Shares of RLI stock traded up $0.32 during trading hours on Thursday, hitting $66.57. The company's stock had a trading volume of 100,799 shares, compared to its average volume of 513,083. RLI Corp. has a twelve month low of $65.14 and a twelve month high of $91.14. The firm has a fifty day moving average of $68.21 and a 200-day moving average of $72.82. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 19.07 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The insurance provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. RLI had a return on equity of 15.82% and a net margin of 17.81%.The business had revenue of $562.28 million for the quarter, compared to analyst estimates of $445.55 million. During the same quarter in the prior year, the company posted $1.72 EPS. The company's quarterly revenue was up 20.0% on a year-over-year basis. Research analysts forecast that RLI Corp. will post 3.08 EPS for the current year.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 29th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 29th. RLI's dividend payout ratio is 18.34%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $78.60.

RLI 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.