Los Angeles Capital Management LLC Purchases 86,494 Shares of RLI Corp. (NYSE:RLI)

Los Angeles Capital Management LLC raised its stake in RLI Corp. (NYSE:RLI - Free Report) by 84.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 188,419 shares of the insurance provider's stock after purchasing an additional 86,494 shares during the period. Los Angeles Capital Management LLC owned 0.21% of RLI worth $15,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC boosted its holdings in RLI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock worth $30,000 after buying an additional 186 shares during the last quarter. Versant Capital Management Inc raised its position in RLI by 100.0% in the 1st 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 in the last quarter. Farther Finance Advisors LLC boosted its position in shares of RLI by 88.5% during the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock worth $38,000 after acquiring an additional 224 shares in the last quarter. Compass Wealth Management LLC lifted its holdings in shares of RLI by 100.0% in the 1st 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. Finally, SBI Securities Co. Ltd. boosted its position in shares of RLI by 56.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 192 shares during the period. 77.89% of the stock is owned by hedge funds and other institutional investors.

RLI Stock Down 1.4%

NYSE RLI traded down $1.01 during trading hours on Monday, reaching $69.24. 628,582 shares of the company traded hands, compared to its average volume of 395,729. The company has a 50 day moving average of $73.21 and a two-hundred day moving average of $75.02. The stock has a market capitalization of $6.35 billion, a PE ratio of 24.69 and a beta of 0.67. RLI Corp. has a 12 month low of $69.16 and a 12 month high of $91.15. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06.

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 net margin of 16.22% and a return on equity of 16.26%. During the same period last year, the company earned $1.72 EPS. The firm's revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities analysts expect that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 30th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.92%. This is a boost from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 30th. RLI's dividend payout ratio is 21.05%.

Wall Street Analysts Forecast Growth

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