OneDigital Investment Advisors LLC Raises Stock Holdings in RLI Corp. (NYSE:RLI)

OneDigital Investment Advisors LLC increased its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 132.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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.

Other hedge funds have also recently modified their holdings of the company. Illinois Municipal Retirement Fund grew its holdings in RLI by 100.0% during the first quarter. Illinois Municipal Retirement Fund now owns 19,526 shares of the insurance provider's stock worth $1,569,000 after acquiring an additional 9,763 shares during the period. New York State Teachers Retirement System grew its holdings in RLI by 99.6% during the first quarter. New York State Teachers Retirement System now owns 112,616 shares of the insurance provider's stock worth $9,046,000 after acquiring an additional 56,208 shares during the period. Golden State Wealth Management LLC grew its holdings in 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 acquiring an additional 186 shares during the period. CX Institutional acquired a new position in RLI during the first quarter worth $281,000. Finally, QRG Capital Management Inc. grew its holdings in RLI by 70.0% during the first quarter. QRG Capital Management Inc. now owns 9,019 shares of the insurance provider's stock worth $724,000 after acquiring an additional 3,714 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Price Performance

RLI stock traded down $0.59 during trading hours on Friday, hitting $70.13. The stock had a trading volume of 512,660 shares, compared to its average volume of 392,036. 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 stock has a market capitalization of $6.44 billion, a price-to-earnings 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. The stock's fifty day moving average is $73.62 and its two-hundred day moving average is $75.55.

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 return on equity of 16.26% and a net margin of 16.22%. The business had revenue of $36.73 million for the quarter, compared to the consensus estimate of $442.20 million. During the same period in the prior year, the business earned $0.95 earnings per share. The business's revenue was down 8.3% on a year-over-year basis. As a group, analysts predict that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Compass Point lowered RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods lowered their target price on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $78.60.

RLI Company 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.