Rhumbline Advisers Has $19.45 Million Stock Position in RLI Corp. (NYSE:RLI)

Rhumbline Advisers raised its holdings in RLI Corp. (NYSE:RLI - Free Report) by 81.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 242,061 shares of the insurance provider's stock after purchasing an additional 108,889 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of RLI worth $19,445,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in RLI by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 471,752 shares of the insurance provider's stock valued at $77,759,000 after purchasing an additional 9,131 shares during the period. New York Life Investment Management LLC acquired a new position in shares of RLI in the 4th quarter valued at approximately $728,000. Raymond James Financial Inc. bought a new stake in RLI during the 4th quarter worth approximately $17,854,000. Empowered Funds LLC bought a new position in shares of RLI during the fourth quarter worth about $840,000. Finally, Confluence Investment Management LLC bought a new position in shares of RLI during the 1st quarter worth approximately $1,120,000. 77.89% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $74.89, for a total value of $214,484.96. Following the completion of the sale, the director now owns 23,312 shares of the company's stock, valued at approximately $1,745,835.68. This represents a 10.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jordan W. Graham sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $74.77, for a total transaction of $112,155.00. Following the sale, the director now directly owns 12,854 shares of the company's stock, valued at $961,093.58. This represents a 10.45% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.16% of the company's stock.

RLI Stock Performance

Shares of RLI traded down $2.17 during trading hours on Monday, hitting $73.76. The company had a trading volume of 190,549 shares, compared to its average volume of 370,349. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 19.70 and a beta of 0.70. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $75.59 and a 200-day moving average of $77.82. 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 posted its quarterly earnings data 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 net margin of 19.53% and a return on equity of 16.63%. The business's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. Equities analysts anticipate 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 will be paid on Friday, June 20th. Shareholders of record on Friday, May 30th will be issued a $0.16 dividend. This is a positive change from RLI's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, May 30th. RLI's dividend payout ratio (DPR) is currently 21.05%.

Wall Street Analyst Weigh In

RLI has been the subject of several recent research reports. Compass Point cut shares of RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. One equities research 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, the company has an average rating of "Hold" and an average price target of $78.60.

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.