Oregon Public Employees Retirement Fund Purchases 8,441 Shares of RLI Corp. (NYSE:RLI)

Oregon Public Employees Retirement Fund boosted its stake in RLI Corp. (NYSE:RLI - Free Report) by 98.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 16,972 shares of the insurance provider's stock after buying an additional 8,441 shares during the period. Oregon Public Employees Retirement Fund's holdings in RLI were worth $1,363,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after buying an additional 159 shares during the last quarter. Golden State Wealth Management LLC grew its stake in RLI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock valued at $30,000 after buying an additional 186 shares during the last quarter. Alpha DNA Investment Management LLC grew its stake in RLI by 7.8% in the 4th quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider's stock valued at $432,000 after buying an additional 189 shares during the last quarter. Corient Private Wealth LLC grew its stake in RLI by 1.2% in the 4th quarter. Corient Private Wealth LLC now owns 17,265 shares of the insurance provider's stock valued at $2,846,000 after buying an additional 197 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in RLI by 100.0% in the 1st quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock valued at $33,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Stock Performance

Shares of NYSE:RLI opened at $71.70 on Friday. The company's 50 day moving average price is $73.91 and its two-hundred day moving average price is $75.92. RLI Corp. has a 12-month low of $68.50 and a 12-month high of $91.15. The firm has a market cap of $6.58 billion, a PE ratio of 23.59 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 (NYSE:RLI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The business had revenue of $36.73 million for 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 firm's revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. Equities research analysts predict that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were given a dividend of $0.16 per share. This is a positive change from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.89%. RLI's dividend payout ratio (DPR) is currently 21.05%.

Analyst Upgrades and Downgrades

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