OneDigital Investment Advisors LLC Purchases 3,982 Shares of 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 Securities and Exchange Commission. The fund owned 6,999 shares of the insurance provider's stock after purchasing an additional 3,982 shares during the quarter. OneDigital Investment Advisors LLC's holdings in RLI were worth $562,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in RLI. Golden State Wealth Management LLC boosted its position 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 worth $30,000 after buying an additional 186 shares during the period. Versant Capital Management Inc boosted its position in shares of RLI by 100.0% during the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock worth $33,000 after buying an additional 203 shares during the period. Farther Finance Advisors LLC boosted its position in shares of RLI by 88.5% during the first quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock worth $38,000 after buying an additional 224 shares during the period. ORG Partners LLC lifted its position in RLI by 100.0% in the first quarter. ORG Partners LLC now owns 566 shares of the insurance provider's stock worth $46,000 after purchasing an additional 283 shares during the period. Finally, Fifth Third Bancorp lifted its position in RLI by 132.4% in the first quarter. Fifth Third Bancorp now owns 739 shares of the insurance provider's stock worth $59,000 after purchasing an additional 421 shares during the period. 77.89% of the stock is owned by institutional investors.

RLI Price Performance

RLI traded down $0.55 during midday trading on Friday, reaching $70.17. 131,592 shares of the company's stock were exchanged, compared to its average volume of 470,854. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 23.08 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 one year low of $69.16 and a one year high of $91.14. The business has a 50-day simple moving average of $73.71 and a two-hundred day simple moving average of $75.64.

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

RLI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were issued a $0.16 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

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