RLI Corp. (NYSE:RLI) Shares Bought by Mad River Investors

Mad River Investors raised its position in RLI Corp. (NYSE:RLI - Free Report) by 63.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,000 shares of the insurance provider's stock after acquiring an additional 3,500 shares during the quarter. RLI accounts for about 0.3% of Mad River Investors' investment portfolio, making the stock its 19th largest holding. Mad River Investors' holdings in RLI were worth $723,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RLI. Norges Bank acquired a new stake in RLI in the fourth quarter valued at approximately $80,476,000. Wellington Management Group LLP grew its position in RLI by 580.4% in the fourth quarter. Wellington Management Group LLP now owns 415,247 shares of the insurance provider's stock valued at $68,445,000 after acquiring an additional 354,219 shares in the last quarter. GAMMA Investing LLC grew its position in RLI by 15,376.1% in the first quarter. GAMMA Investing LLC now owns 160,178 shares of the insurance provider's stock valued at $12,867,000 after acquiring an additional 159,143 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of RLI by 111.3% during the first quarter. Retirement Systems of Alabama now owns 244,502 shares of the insurance provider's stock worth $19,641,000 after buying an additional 128,802 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of RLI by 12.8% in the fourth quarter. Geode Capital Management LLC now owns 1,024,518 shares of the insurance provider's stock worth $168,907,000 after buying an additional 116,088 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Stock Performance

RLI stock opened at $72.05 on Friday. The company has a market cap of $6.61 billion, a PE ratio of 23.70 and a beta of 0.70. The company has a fifty day moving average price of $74.91 and a two-hundred day moving average price of $76.79. 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 Corp. has a 12 month low of $68.50 and a 12 month high of $91.15.

RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $36.73 million during 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 firm's revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.95 earnings per share. Research analysts expect that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 30th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Friday, May 30th. This is an increase from RLI's previous quarterly dividend of $0.15. RLI's payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

RLI has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of RLI from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. JMP Securities restated a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods dropped 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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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