RLI Corp. (NYSE:RLI) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its position in RLI Corp. (NYSE:RLI - Free Report) by 90.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,070 shares of the insurance provider's stock after purchasing an additional 31,435 shares during the period. Nisa Investment Advisors LLC owned about 0.07% of RLI worth $5,307,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Golden State Wealth Management LLC boosted its holdings 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 valued at $30,000 after acquiring an additional 186 shares during the period. Versant Capital Management Inc lifted its position in shares of RLI by 100.0% in 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 lifted its position in shares of RLI by 88.5% in 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. Compass Wealth Management LLC increased its holdings in RLI by 100.0% in the first quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider's stock worth $39,000 after buying an additional 240 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in RLI by 47.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after purchasing an additional 159 shares during the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on RLI. Wall Street Zen upgraded shares of RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Compass Point downgraded shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Keefe, Bruyette & Woods cut their target price on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, JMP Securities reiterated a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $78.60.

RLI Stock Down 1.3%

Shares of RLI traded down $0.89 during trading hours on Tuesday, hitting $69.94. 529,854 shares of the company were exchanged, compared to its average volume of 393,158. RLI Corp. has a 52 week low of $69.16 and a 52 week high of $91.15. The company has a market cap of $6.42 billion, a PE ratio of 23.01 and a beta of 0.67. The firm's 50 day moving average is $73.55 and its 200-day moving average is $75.35. 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 data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. The business had revenue of $36.73 million for the quarter, compared to analysts' expectations of $442.20 million. RLI had a net margin of 16.22% and a return on equity of 16.26%. The firm's quarterly revenue was down 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. On average, equities research analysts forecast that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently disclosed 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. This represents a $0.64 annualized dividend and a dividend yield of 0.92%. This is an increase from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 30th. RLI's dividend payout ratio (DPR) is presently 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.