RLI Corp. (NYSE:RLI) Shares Bought by Madison Asset Management LLC

Madison Asset Management LLC boosted its position in RLI Corp. (NYSE:RLI - Free Report) by 568.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,275 shares of the insurance provider's stock after purchasing an additional 58,064 shares during the quarter. Madison Asset Management LLC owned about 0.07% of RLI worth $5,485,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its stake in RLI by 100.0% in the 1st 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 raised its stake 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 during the last quarter. Farther Finance Advisors LLC raised its stake in RLI by 88.5% in the 1st 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. Compass Wealth Management LLC raised its stake in 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. grew its holdings in 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 buying an additional 192 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Trading Down 0.0%

RLI traded down $0.00 during mid-day trading on Friday, hitting $67.78. 846,174 shares of the stock were exchanged, compared to its average volume of 742,861. The firm's fifty day moving average is $72.62 and its two-hundred day moving average is $74.68. RLI Corp. has a 1-year low of $67.12 and a 1-year high of $91.14. The company has a current ratio of 0.34, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. The company has a market cap of $6.22 billion, a PE ratio of 19.42 and a beta of 0.67.

RLI (NYSE:RLI - Get Free Report) last posted its earnings results on Monday, July 21st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping 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 firm 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 earned $1.72 EPS. RLI's revenue was up 20.0% on a year-over-year basis. Equities analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were paid a dividend of $0.16 per share. This is a positive change from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 30th. This represents a $0.64 annualized dividend and a yield of 0.94%. RLI's dividend payout ratio is presently 18.34%.

Analysts Set New Price Targets

Several analysts have issued reports on RLI shares. JMP Securities restated a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Compass Point cut RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Keefe, Bruyette & Woods dropped their target price on RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, RLI presently has a consensus rating of "Hold" and an average price target of $78.60.

Insider Transactions at RLI

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

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.