Quantbot Technologies LP Buys Shares of 14,420 RLI Corp. $RLI

Key Points

• Quantbot Technologies LP invested approximately $1.16 million in RLI Corp., acquiring 14,420 shares of the insurance provider's stock.
• Several institutional investors have increased their stakes in RLI, with Vanguard Group Inc. boosting its position by 95.2% during the first quarter.
• RLI recently reported earnings of $0.84 per share, exceeding analysts' expectations, and declared a quarterly dividend of $0.16 per share, with a yield of 0.9%.

Quantbot Technologies LP acquired a new position in RLI Corp. (NYSE:RLI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 14,420 shares of the insurance provider's stock, valued at approximately $1,158,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Illinois Municipal Retirement Fund raised its stake in shares of RLI by 100.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 19,526 shares of the insurance provider's stock worth $1,569,000 after buying an additional 9,763 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of RLI by 99.6% in the 1st quarter. New York State Teachers Retirement System now owns 112,616 shares of the insurance provider's stock worth $9,046,000 after buying an additional 56,208 shares in the last quarter. Empower Advisory Group LLC raised its stake in shares of RLI by 105.5% in the 1st quarter. Empower Advisory Group LLC now owns 253,074 shares of the insurance provider's stock worth $20,329,000 after buying an additional 129,901 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of RLI by 100.0% in the 1st quarter. Brown Advisory Inc. now owns 13,224 shares of the insurance provider's stock worth $1,062,000 after buying an additional 6,612 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of RLI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock worth $30,000 after buying an additional 186 shares in the last quarter. Institutional investors own 77.89% of the company's stock.

RLI Stock Up 1.0%

Shares of RLI stock traded up $0.67 on Friday, reaching $68.10. 66,688 shares of the company's stock traded hands, compared to its average volume of 511,811. RLI Corp. has a 12-month low of $65.14 and a 12-month high of $91.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $6.25 billion, a P/E ratio of 19.51 and a beta of 0.66. The business's 50 day moving average price is $69.04 and its two-hundred day moving average price is $73.30.

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

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 29th will be paid a $0.16 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. RLI's payout ratio is 18.34%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $78.60.

Insiders Place Their Bets

In other news, COO Jennifer L. Klobnak purchased 3,000 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was bought at an average cost of $69.15 per share, with a total value of $207,450.00. Following the purchase, the chief operating officer directly owned 98,450 shares of the company's stock, valued at approximately $6,807,817.50. This trade represents a 3.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.16% of the stock is currently owned by insiders.

RLI 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.