RLI Corp. (NYSE:RLI) Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC lifted its holdings in RLI Corp. (NYSE:RLI - Free Report) by 103.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,787 shares of the insurance provider's stock after purchasing 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.

A number of other institutional investors have also recently made changes to their positions in RLI. Golden State Wealth Management LLC boosted its position 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 purchasing an additional 186 shares in the last quarter. Versant Capital Management Inc lifted its position in RLI by 100.0% during 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 period. Farther Finance Advisors LLC lifted its position in RLI by 88.5% during 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 period. ORG Partners LLC lifted its position in RLI by 100.0% during 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 period. Finally, SBI Securities Co. Ltd. acquired a new stake in RLI during the 4th quarter worth about $56,000. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Price Performance

Shares of RLI stock traded down $0.53 during mid-day trading on Monday, reaching $71.17. 488,464 shares of the stock traded hands, compared to its average volume of 388,019. The business has a 50-day moving average of $73.86 and a 200 day moving average of $75.78. RLI Corp. has a fifty-two week low of $68.50 and a fifty-two week high of $91.15. The stock has a market capitalization of $6.53 billion, a PE ratio of 23.41 and a beta of 0.67. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06.

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

RLI Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Keefe, Bruyette & Woods lowered 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 report on Friday, April 25th. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, JMP Securities restated a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price 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.