Oak Thistle LLC Buys 11,320 Shares of RLI Corp. (NYSE:RLI)

Oak Thistle LLC boosted its position in shares of RLI Corp. (NYSE:RLI - Free Report) by 201.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,948 shares of the insurance provider's stock after purchasing an additional 11,320 shares during the period. Oak Thistle LLC's holdings in RLI were worth $1,361,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in RLI by 100.0% during 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. Alpha DNA Investment Management LLC raised its stake in shares of RLI by 7.8% in the fourth quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider's stock worth $432,000 after acquiring an additional 189 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of RLI by 56.8% in the first quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider's stock worth $43,000 after acquiring an additional 192 shares during the last quarter. Versant Capital Management Inc raised its stake 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 acquiring an additional 203 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake 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 acquiring an additional 224 shares during the last quarter. 77.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RLI. Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. Compass Point downgraded shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $78.60.

Insider Buying and Selling

In other news, COO Jennifer L. Klobnak purchased 3,000 shares of the business's stock in a transaction on Thursday, July 24th. The stock was purchased at an average price of $69.15 per share, for a total transaction of $207,450.00. Following the completion of the purchase, the chief operating officer directly owned 98,450 shares in the company, valued at $6,807,817.50. The trade was a 3.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.16% of the stock is currently owned by corporate insiders.

RLI Trading Down 1.9%

Shares of RLI traded down $1.34 on Thursday, reaching $67.84. 2,287,588 shares of the company's stock were exchanged, compared to its average volume of 658,484. The stock has a market capitalization of $6.23 billion, a P/E ratio of 19.44 and a beta of 0.67. The business has a 50 day moving average price of $72.78 and a two-hundred day moving average price of $74.77. The company has a current ratio of 0.34, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. RLI Corp. has a 12 month low of $67.12 and a 12 month high of $91.14.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings data 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 net margin of 17.81% and a return on equity of 15.82%. The company had revenue of $562.28 million during the quarter, compared to the consensus estimate of $445.55 million. During the same quarter in the prior year, the firm earned $1.72 earnings per share. The firm's revenue was up 20.0% compared to the same quarter last year. Research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were issued a dividend of $0.16 per share. This is a boost from RLI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend 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%.

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.