QSV Equity Investors LLC Purchases 9,722 Shares of RLI Corp. $RLI

Key Points

• QSV Equity Investors LLC has increased its stake in RLI Corp. by 99.5%, purchasing an additional 9,722 shares to bring its total holdings to 19,489 shares valued at approximately $1.57 million.
• RLI Corp. recently reported earnings of $0.84 per share for the quarter, surpassing analyst estimates and showing a year-over-year revenue growth of 20%.
• The company has declared a quarterly dividend of $0.16 per share, with a yield of 1.0% and an upcoming payment date of September 19th.

QSV Equity Investors LLC boosted its position in shares of RLI Corp. (NYSE:RLI - Free Report) by 99.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,489 shares of the insurance provider's stock after purchasing an additional 9,722 shares during the period. RLI comprises 1.6% of QSV Equity Investors LLC's holdings, making the stock its 25th largest position. QSV Equity Investors LLC's holdings in RLI were worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in RLI by 95.2% during the 1st quarter. Vanguard Group Inc. now owns 8,996,643 shares of the insurance provider's stock worth $722,700,000 after purchasing an additional 4,388,400 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of RLI by 106.6% in the 1st quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider's stock valued at $220,967,000 after acquiring an additional 1,419,212 shares in the last quarter. Markel Group Inc. grew its holdings in shares of RLI by 100.0% in the 1st quarter. Markel Group Inc. now owns 2,394,544 shares of the insurance provider's stock valued at $192,354,000 after acquiring an additional 1,197,272 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of RLI by 97.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider's stock valued at $149,569,000 after acquiring an additional 920,799 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of RLI by 100.5% in the 1st quarter. Invesco Ltd. now owns 1,334,112 shares of the insurance provider's stock valued at $107,169,000 after acquiring an additional 668,717 shares in the last quarter. Institutional investors own 77.89% of the company's stock.

RLI Trading Down 1.1%

Shares of NYSE:RLI opened at $66.69 on Monday. RLI Corp. has a 52-week low of $65.14 and a 52-week high of $91.14. The company has a market capitalization of $6.12 billion, a P/E ratio of 19.11 and a beta of 0.66. The company has a 50-day simple moving average of $69.94 and a 200 day simple moving average of $73.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35.

RLI (NYSE:RLI - Get Free Report) last issued its earnings results on Monday, July 21st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. RLI had a net margin of 17.81% and a return on equity of 15.82%. The business had revenue of $562.28 million during the quarter, compared to the consensus estimate of $445.55 million. During the same period last year, the business posted $1.72 EPS. RLI's revenue was up 20.0% on a year-over-year basis. Sell-side analysts forecast that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 29th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 29th. RLI's dividend payout ratio (DPR) is 18.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Compass Point cut RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Finally, JMP Securities restated a "market perform" rating on shares of RLI in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $78.60.

Insider Transactions at RLI

In related news, COO Jennifer L. Klobnak acquired 3,000 shares of the business's stock in a transaction on Thursday, July 24th. The stock was purchased at an average cost of $69.15 per share, for a total transaction of $207,450.00. Following the completion of the transaction, the chief operating officer directly owned 98,450 shares of the company's stock, valued at approximately $6,807,817.50. The trade was a 3.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.16% of the company's stock.

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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