RLI Corp. $RLI Shares Bought by National Bank of Canada FI

Key Points

• National Bank of Canada FI significantly increased its holdings in RLI Corp. by 109.8% in Q1, owning 39,668 shares valued at approximately $3.19 million.
• RLI Corp. recently announced a quarterly dividend of $0.16 per share, representing a 1.0% annual yield, with an ex-dividend date of August 29th.
• Despite recent investment gains, RLI's stock is currently rated as a "Hold" by most analysts, with a consensus price target of $78.60.

National Bank of Canada FI grew its holdings in RLI Corp. (NYSE:RLI - Free Report) by 109.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,668 shares of the insurance provider's stock after purchasing an additional 20,764 shares during the quarter. National Bank of Canada FI's holdings in RLI were worth $3,189,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Swiss National Bank grew its position in shares of RLI by 97.5% in the first quarter. Swiss National Bank now owns 159,800 shares of the insurance provider's stock valued at $12,837,000 after purchasing an additional 78,900 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of RLI by 100.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 198 shares during the last quarter. Maryland State Retirement & Pension System grew its position in shares of RLI by 63.7% in the first quarter. Maryland State Retirement & Pension System now owns 3,872 shares of the insurance provider's stock valued at $311,000 after purchasing an additional 1,506 shares during the last quarter. Headlands Technologies LLC grew its position in shares of RLI by 579.0% in the first quarter. Headlands Technologies LLC now owns 1,066 shares of the insurance provider's stock valued at $86,000 after purchasing an additional 909 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of RLI by 108.7% in the first quarter. Deutsche Bank AG now owns 18,487 shares of the insurance provider's stock valued at $1,485,000 after purchasing an additional 9,629 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on RLI. JMP Securities reiterated a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of RLI from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $78.60.

Insider Buying and Selling at RLI

In related news, COO Jennifer L. Klobnak purchased 3,000 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were bought at an average price of $69.15 per share, for a total transaction of $207,450.00. Following the acquisition, the chief operating officer directly owned 98,450 shares in the company, valued at $6,807,817.50. This trade represents a 3.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 2.16% of the stock is currently owned by company insiders.

RLI Trading Up 1.0%

NYSE RLI traded up $0.6750 during mid-day trading on Tuesday, reaching $67.4850. 60,229 shares of the stock were exchanged, compared to its average volume of 515,333. RLI Corp. has a 1-year low of $65.14 and a 1-year high of $91.14. The business's fifty day simple moving average is $69.79 and its 200 day simple moving average is $73.73. The stock has a market capitalization of $6.20 billion, a PE ratio of 19.34 and a beta of 0.66. 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 earnings results on Monday, July 21st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. The firm had revenue of $562.28 million for the quarter, compared to analyst estimates of $445.55 million. RLI had a net margin of 17.81% and a return on equity of 15.82%. RLI's revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.72 earnings per share. On average, research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 29th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 29th. RLI's dividend payout ratio (DPR) is 18.34%.

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.