Nisa Investment Advisors LLC Increases Stake in RLI Corp. (NYSE:RLI)

Nisa Investment Advisors LLC boosted its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 90.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,070 shares of the insurance provider's stock after acquiring an additional 31,435 shares during the quarter. Nisa Investment Advisors LLC owned 0.07% of RLI worth $5,307,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its position in 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 in the last quarter. Versant Capital Management Inc raised its position in RLI by 100.0% during the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 203 shares in the last quarter. Farther Finance Advisors LLC raised its position in RLI by 88.5% during the first quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 224 shares in the last quarter. Compass Wealth Management LLC raised its position in RLI by 100.0% during the first quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 240 shares in the last quarter. Finally, ORG Partners LLC raised its position in RLI by 100.0% during the first quarter. ORG Partners LLC now owns 566 shares of the insurance provider's stock valued at $46,000 after acquiring an additional 283 shares in the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Stock Performance

Shares of NYSE:RLI opened at $70.13 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35. The business's 50 day moving average price is $73.62 and its 200-day moving average price is $75.55. The firm has a market capitalization of $6.44 billion, a PE ratio of 23.07 and a beta of 0.67. RLI Corp. has a 1 year low of $69.16 and a 1 year high of $91.15.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly 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. The firm had revenue of $36.73 million for the quarter, compared to analyst estimates of $442.20 million. RLI had a return on equity of 16.26% and a net margin of 16.22%. The business's revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, equities research analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 30th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 30th. This is a positive change from RLI's previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.91%. RLI's payout ratio is currently 21.05%.

Analyst Ratings Changes

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

About RLI

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.

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