RLI Corp. (NYSE:RLI) Shares Purchased by Brown Advisory Inc.

Brown Advisory Inc. boosted its stake in RLI Corp. (NYSE:RLI - Free Report) by 100.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,224 shares of the insurance provider's stock after buying an additional 6,612 shares during the period. Brown Advisory Inc.'s holdings in RLI were worth $1,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after buying an additional 159 shares during the period. Golden State Wealth Management LLC raised its holdings 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 valued at $30,000 after buying an additional 186 shares during the period. Alpha DNA Investment Management LLC raised its holdings in shares of RLI by 7.8% in the 4th quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider's stock valued at $432,000 after buying an additional 189 shares during the period. Corient Private Wealth LLC raised its holdings in shares of RLI by 1.2% in the 4th quarter. Corient Private Wealth LLC now owns 17,265 shares of the insurance provider's stock valued at $2,846,000 after buying an additional 197 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of RLI by 100.0% in the 1st quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock valued at $33,000 after buying an additional 203 shares during the period. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

RLI Stock Down 0.2%

Shares of NYSE:RLI traded down $0.15 on Thursday, hitting $70.30. 620,413 shares of the company's stock were exchanged, compared to its average volume of 394,683. The firm's 50-day moving average is $73.30 and its 200 day moving average is $75.20. The company has a market capitalization of $6.45 billion, a PE ratio of 23.13 and a beta of 0.67. RLI Corp. has a 1-year low of $69.16 and a 1-year high of $91.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35.

RLI (NYSE:RLI - Get Free Report) last announced its 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 analysts' expectations of $442.20 million. RLI had a return on equity of 16.26% and a net margin of 16.22%. The business's revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. Sell-side analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were given a $0.16 dividend. The ex-dividend date was Friday, May 30th. This is a boost from RLI's previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.91%. RLI's dividend payout ratio is 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.