QRG Capital Management Inc. Grows Position in RLI Corp. (NYSE:RLI)

QRG Capital Management Inc. raised its holdings in RLI Corp. (NYSE:RLI - Free Report) by 70.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,019 shares of the insurance provider's stock after acquiring an additional 3,714 shares during the period. QRG Capital Management Inc.'s holdings in RLI were worth $724,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RLI. Sanctuary Advisors LLC raised its holdings in shares of RLI by 147.2% in the 4th quarter. Sanctuary Advisors LLC now owns 14,917 shares of the insurance provider's stock valued at $2,459,000 after acquiring an additional 8,883 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of RLI by 5.9% in the 4th quarter. Handelsbanken Fonder AB now owns 10,730 shares of the insurance provider's stock valued at $1,769,000 after acquiring an additional 600 shares in the last quarter. ST. Nicholas Private Asset Management Inc. purchased a new stake in shares of RLI in the 4th quarter valued at about $8,739,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of RLI in the 4th quarter valued at about $404,000. Finally, Amalgamated Bank raised its holdings in shares of RLI by 3.5% in the 4th quarter. Amalgamated Bank now owns 20,580 shares of the insurance provider's stock valued at $3,392,000 after acquiring an additional 695 shares in the last quarter. Hedge funds and other institutional investors own 77.89% of the company's stock.

RLI Price Performance

Shares of RLI stock opened at $72.05 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $6.61 billion, a PE ratio of 23.70 and a beta of 0.70. The business's 50-day moving average price is $74.91 and its 200-day moving average price is $76.79. RLI Corp. has a 12 month low of $68.50 and a 12 month high of $91.15.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. The business had revenue of $36.73 million for the quarter, compared to analysts' expectations of $442.20 million. RLI had a return on equity of 16.26% and a net margin of 16.22%. The business's quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. Sell-side analysts forecast that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 30th were issued a $0.16 dividend. This is a boost from RLI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

Several analysts have weighed in on RLI shares. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. JMP Securities reiterated a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. Compass Point lowered RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Finally, Keefe, Bruyette & Woods reduced their price objective 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 analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus 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.

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