RLI Corp. (NYSE:RLI) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 70.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,019 shares of the insurance provider's stock after purchasing an additional 3,714 shares during the quarter. QRG Capital Management Inc.'s holdings in RLI were worth $724,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in 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 buying an additional 203 shares during the last quarter. Farther Finance Advisors LLC lifted its position in RLI by 88.5% in the 1st 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 last quarter. SBI Securities Co. Ltd. acquired a new position in RLI during the 4th quarter valued at about $56,000. Fifth Third Bancorp grew its position in RLI by 132.4% in the 1st 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 last quarter. Finally, EverSource Wealth Advisors LLC grew its position in RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock worth $82,000 after purchasing an additional 159 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Price Performance

RLI traded down $1.83 during trading on Wednesday, reaching $71.32. The stock had a trading volume of 413,688 shares, compared to its average volume of 377,754. The stock has a 50 day moving average of $74.74 and a two-hundred day moving average of $76.61. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 23.46 and a beta of 0.70. RLI Corp. has a 1-year low of $68.50 and a 1-year high of $91.15.

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

RLI Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RLI shares. JMP Securities reiterated a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price target on RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Compass Point cut RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently 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.