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

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 worth $30,000 after purchasing an additional 186 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of RLI by 100.0% in the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 203 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of RLI by 88.5% in the first quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 224 shares in the last quarter. Compass Wealth Management LLC boosted its holdings in shares of RLI by 100.0% in the first quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 240 shares in the last quarter. Finally, ORG Partners LLC boosted its holdings in shares of RLI by 100.0% in the first quarter. ORG Partners LLC now owns 566 shares of the insurance provider's stock valued at $46,000 after acquiring an additional 283 shares in the last quarter. Institutional investors own 77.89% of the company's stock.

RLI Stock Down 0.8%

RLI stock opened at $70.70 on Friday. RLI Corp. has a 12 month low of $69.16 and a 12 month high of $91.15. The firm has a market cap of $6.49 billion, a PE ratio of 23.26 and a beta of 0.67. The firm has a 50 day simple moving average of $73.71 and a 200 day simple moving average of $75.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35.

RLI (NYSE:RLI - Get Free Report) last released 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 net margin of 16.22% and a return on equity of 16.26%. The business had revenue of $36.73 million during the quarter, compared to analyst estimates of $442.20 million. During the same period in the prior year, the business earned $0.95 earnings per share. The business's quarterly revenue was down 8.3% on a year-over-year basis. Equities research analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.91%. 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 is 21.05%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Compass Point cut shares of RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Keefe, Bruyette & Woods decreased their price objective on shares of RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. JMP Securities reiterated a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $78.60.

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.

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