Crossmark Global Holdings Inc. Grows Position in RLI Corp. (NYSE:RLI)

Crossmark Global Holdings Inc. grew its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 99.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,685 shares of the insurance provider's stock after buying an additional 3,830 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in RLI were worth $617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RLI. Proficio Capital Partners LLC acquired a new position in shares of RLI during the fourth quarter worth $2,146,000. Raymond James Financial Inc. acquired a new position in RLI during the 4th quarter worth about $17,854,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in RLI by 17.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,114 shares of the insurance provider's stock worth $1,832,000 after buying an additional 1,629 shares during the period. EverSource Wealth Advisors LLC lifted its holdings 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 buying an additional 159 shares during the period. Finally, Swiss National Bank lifted its holdings in RLI by 0.7% during the 4th quarter. Swiss National Bank now owns 80,900 shares of the insurance provider's stock worth $13,335,000 after buying an additional 600 shares during the period. Institutional investors own 77.89% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RLI. Keefe, Bruyette & Woods cut their target price on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. JMP Securities restated a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Finally, Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. 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.com, the stock presently has an average rating of "Hold" and an average price target of $78.60.

RLI Stock Up 1.0%

Shares of RLI traded up $0.72 on Monday, reaching $70.89. The company's stock had a trading volume of 16,741 shares, compared to its average volume of 390,981. RLI Corp. has a twelve month low of $69.02 and a twelve month high of $91.15. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average of $73.62 and a 200-day moving average of $75.44. The stock has a market capitalization of $6.51 billion, a PE ratio of 23.28 and a beta of 0.67.

RLI (NYSE:RLI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share for the quarter, topping 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 firm had revenue of $36.73 million for the quarter, compared to the consensus estimate of $442.20 million. During the same quarter in the previous year, the business earned $0.95 EPS. The company's revenue was down 8.3% compared to the same quarter last year. Equities analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 30th were given a dividend of $0.16 per share. This is an increase from RLI's previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, May 30th. RLI's dividend payout ratio is currently 21.05%.

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.