OneDigital Investment Advisors LLC Grows Position in RLI Corp. (NYSE:RLI)

OneDigital Investment Advisors LLC grew its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 132.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,999 shares of the insurance provider's stock after buying an additional 3,982 shares during the period. OneDigital Investment Advisors LLC's holdings in RLI were worth $562,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RLI. Golden State Wealth Management LLC boosted its stake in shares of RLI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock worth $30,000 after purchasing an additional 186 shares during the last quarter. Versant Capital Management Inc grew 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 valued at $33,000 after purchasing an additional 203 shares during the period. Farther Finance Advisors LLC grew 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 valued at $38,000 after purchasing an additional 224 shares during the period. ORG Partners LLC grew its position in shares of RLI by 100.0% in the first quarter. ORG Partners LLC now owns 566 shares of the insurance provider's stock valued at $46,000 after purchasing an additional 283 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of RLI by 132.4% in the first quarter. Fifth Third Bancorp now owns 739 shares of the insurance provider's stock valued at $59,000 after purchasing an additional 421 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Trading Down 0.4%

Shares of RLI stock opened at $71.21 on Thursday. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 23.42 and a beta of 0.67. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06. RLI Corp. has a fifty-two week low of $68.50 and a fifty-two week high of $91.15. The firm's 50 day moving average price is $73.76 and its two-hundred day moving average price is $75.72.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. RLI had a net margin of 16.22% and a return on equity of 16.26%. The company had revenue of $36.73 million during the quarter, compared to the consensus estimate of $442.20 million. During the same quarter last year, the company earned $0.95 earnings per share. RLI's revenue for the quarter was down 8.3% on a year-over-year basis. On average, analysts anticipate that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 30th were given a $0.16 dividend. This is a boost from RLI's previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Friday, May 30th. RLI's dividend payout ratio is presently 21.05%.

Analysts Set New Price Targets

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

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.

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