Exchange Traded Concepts LLC Acquires 5,523 Shares of RLI Corp. (NYSE:RLI)

Exchange Traded Concepts LLC grew its stake in RLI Corp. (NYSE:RLI - Free Report) by 111.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,467 shares of the insurance provider's stock after acquiring an additional 5,523 shares during the period. Exchange Traded Concepts LLC's holdings in RLI were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of RLI. SBI Securities Co. Ltd. bought a new stake in RLI in the fourth quarter valued at approximately $56,000. 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 buying an additional 203 shares during the period. 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 buying an additional 224 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of RLI by 47.0% in the fourth 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. Finally, Quarry LP acquired a new position in RLI during the fourth quarter worth $108,000. 77.89% of the stock is owned by institutional investors.

RLI Stock Performance

NYSE:RLI traded up $1.51 during mid-day trading on Monday, reaching $73.69. 332,253 shares of the company's stock were exchanged, compared to its average volume of 376,534. RLI Corp. has a one year low of $68.50 and a one year high of $91.15. The firm has a market capitalization of $6.76 billion, a PE ratio of 24.24 and a beta of 0.70. The business's fifty day simple moving average is $74.91 and its two-hundred day simple moving average is $76.72. 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 quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $36.73 million for the quarter, compared to the consensus estimate of $442.20 million. RLI had a net margin of 16.22% and a return on equity of 16.26%. The business's revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. Analysts anticipate 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 was paid on Friday, June 20th. Shareholders of record on Friday, May 30th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.87%. This is an increase from RLI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, May 30th. RLI's dividend payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

RLI has been the subject of a number of recent analyst reports. Compass Point cut shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Keefe, Bruyette & Woods cut their price target on shares of RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, JMP Securities reissued a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. 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. Based on data from MarketBeat, RLI currently has an average rating of "Hold" and a consensus price target of $78.60.

About RLI

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.