RLI Corp. (NYSE:RLI) Stock Holdings Boosted by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC raised its position in RLI Corp. (NYSE:RLI - Free Report) by 125.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,069 shares of the insurance provider's stock after purchasing an additional 8,939 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in RLI were worth $1,291,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RLI. Golden State Wealth Management LLC grew its position in RLI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock valued at $30,000 after buying an additional 186 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of RLI by 100.0% during the first 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 raised its holdings in RLI by 88.5% during the first quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock worth $38,000 after purchasing an additional 224 shares in the last quarter. Compass Wealth Management LLC boosted its holdings in RLI by 100.0% in the 1st quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 240 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in RLI by 47.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock worth $82,000 after purchasing an additional 159 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RLI has been the topic of a number of analyst reports. JMP Securities restated a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. Keefe, Bruyette & Woods cut their price target 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. Compass Point downgraded shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, RLI currently has an average rating of "Hold" and an average price target of $78.60.

RLI Stock Performance

NYSE:RLI traded down $0.59 during mid-day trading on Friday, hitting $70.13. The stock had a trading volume of 512,660 shares, compared to its average volume of 392,036. The company has a 50 day simple moving average of $73.71 and a 200-day simple moving average of $75.64. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 23.07 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. RLI Corp. has a 52 week low of $69.16 and a 52 week high of $91.15.

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

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.64 annualized dividend and a yield of 0.91%. This is an increase from RLI's previous quarterly dividend of $0.15. RLI's dividend payout ratio is presently 21.05%.

RLI Company 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.