Resonant Capital Advisors LLC Purchases 4,988 Shares of RLI Corp. (NYSE:RLI)

Resonant Capital Advisors LLC increased its position in RLI Corp. (NYSE:RLI - Free Report) by 103.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,787 shares of the insurance provider's stock after acquiring an additional 4,988 shares during the quarter. Resonant Capital Advisors LLC's holdings in RLI were worth $786,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RLI. Golden State Wealth Management LLC increased its holdings in 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 acquiring an additional 186 shares during the last quarter. Versant Capital Management Inc increased its holdings in RLI by 100.0% in the 1st quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock worth $33,000 after acquiring an additional 203 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in RLI by 88.5% in the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock worth $38,000 after acquiring an additional 224 shares during the last quarter. ORG Partners LLC increased its holdings in RLI by 100.0% in the 1st quarter. ORG Partners LLC now owns 566 shares of the insurance provider's stock worth $46,000 after acquiring an additional 283 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in RLI in the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 77.89% of the company's stock.

Wall Street Analyst Weigh In

A number of research 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 reaffirmed a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their target price on RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Compass Point lowered RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $78.60.

RLI Price Performance

Shares of RLI traded up $1.27 during trading hours on Friday, reaching $71.70. 559,230 shares of the company's stock traded hands, compared to its average volume of 387,615. The stock has a market cap of $6.58 billion, a PE ratio of 23.59 and a beta of 0.67. 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's 50 day simple moving average is $73.91 and its 200-day simple moving average is $75.87. 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 issued its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $36.73 million during the quarter, compared to the consensus estimate of $442.20 million. RLI had a return on equity of 16.26% and a net margin of 16.22%. The company's revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. Equities analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

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

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.