New Mexico Educational Retirement Board Has $1.33 Million Stock Holdings in RLI Corp. (NYSE:RLI)

New Mexico Educational Retirement Board increased its stake in RLI Corp. (NYSE:RLI - Free Report) by 100.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,600 shares of the insurance provider's stock after buying an additional 8,300 shares during the period. New Mexico Educational Retirement Board's holdings in RLI were worth $1,333,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in RLI by 104.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,162 shares of the insurance provider's stock worth $191,000 after purchasing an additional 595 shares during the period. Proficio Capital Partners LLC acquired a new stake in RLI in the fourth quarter worth about $2,146,000. Raymond James Financial Inc. bought a new stake in RLI in the fourth quarter worth about $17,854,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in RLI by 17.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,114 shares of the insurance provider's stock worth $1,832,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Independent Advisor Alliance raised its position in RLI by 5.3% in the fourth quarter. Independent Advisor Alliance now owns 17,871 shares of the insurance provider's stock worth $2,946,000 after acquiring an additional 892 shares in the last quarter. Institutional investors own 77.89% of the company's stock.

Wall Street Analysts Forecast Growth

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. Keefe, Bruyette & Woods dropped their target price on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Compass Point cut RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, RLI has an average rating of "Hold" and a consensus target price of $78.60.

RLI Trading Down 0.8%

RLI stock traded down $0.59 during mid-day trading on Friday, hitting $70.13. The stock had a trading volume of 512,660 shares, compared to its average volume of 392,458. The stock has a 50-day simple moving average of $73.62 and a two-hundred day simple moving average of $75.49. The stock has a market capitalization of $6.44 billion, a PE ratio of 23.07 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 issued its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. RLI had a return on equity of 16.26% and a net margin of 16.22%. The firm had revenue of $36.73 million for the quarter, compared to analysts' expectations of $442.20 million. During the same quarter last year, the business earned $0.95 earnings per share. The company's revenue was down 8.3% compared to the same quarter last year. As a group, sell-side analysts forecast that RLI Corp. will post 3.08 EPS for the current 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 given a dividend of $0.16 per share. The ex-dividend date was Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.91%. This is a positive change from RLI's previous quarterly dividend of $0.15. RLI's dividend payout ratio (DPR) is currently 21.05%.

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.