RLI Corp. (NYSE:RLI) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 111.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,467 shares of the insurance provider's stock after purchasing an additional 5,523 shares during the quarter. Exchange Traded Concepts LLC's holdings in RLI were worth $841,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of RLI by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 4,608,243 shares of the insurance provider's stock worth $759,577,000 after purchasing an additional 41,884 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of RLI by 1.5% during the fourth quarter. Neuberger Berman Group LLC now owns 1,331,526 shares of the insurance provider's stock worth $219,475,000 after purchasing an additional 19,695 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of RLI by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 1,024,518 shares of the insurance provider's stock worth $168,907,000 after purchasing an additional 116,088 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of RLI by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 941,185 shares of the insurance provider's stock worth $155,136,000 after purchasing an additional 7,609 shares in the last quarter. Finally, Port Capital LLC lifted its stake in shares of RLI by 0.9% during the fourth quarter. Port Capital LLC now owns 766,668 shares of the insurance provider's stock worth $126,370,000 after purchasing an additional 6,680 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Stock Down 0.9%

Shares of RLI stock opened at $71.49 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06. The firm has a market cap of $6.56 billion, a P/E ratio of 23.52 and a beta of 0.70. RLI Corp. has a fifty-two week low of $68.50 and a fifty-two week high of $91.15. The business has a 50-day moving average price of $74.99 and a 200 day moving average price of $76.96.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. The firm had revenue of $36.73 million during the quarter, compared to analyst estimates of $442.20 million. RLI had a return on equity of 16.26% and a net margin of 16.22%. RLI's quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. On average, sell-side analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors 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 0.90%. The ex-dividend date of this dividend is Friday, May 30th. RLI's payout ratio is currently 21.05%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. JMP Securities reiterated a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Compass Point cut RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods cut their price target on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. One research 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price 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.

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