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Alps Advisors Inc. Boosts Stake in RLI Corp. (NYSE:RLI)

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Alps Advisors Inc. raised its stake in RLI Corp. (NYSE:RLI - Free Report) by 115.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 174,704 shares of the insurance provider's stock after purchasing an additional 93,635 shares during the quarter. Alps Advisors Inc. owned about 0.19% of RLI worth $14,034,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted 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 purchasing an additional 186 shares during the last quarter. Versant Capital Management Inc boosted 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 purchasing an additional 203 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of RLI by 88.5% in the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 224 shares during the last quarter. Compass Wealth Management LLC boosted its holdings in shares of RLI by 100.0% in the 1st quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 240 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted 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 purchasing an additional 159 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Stock Down 0.8%

Shares of NYSE:RLI traded down $0.59 during midday trading on Friday, hitting $70.13. 512,660 shares of the company's stock traded hands, compared to its average volume of 392,458. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $6.44 billion, a PE ratio of 23.07 and a beta of 0.67. The firm's fifty day moving average price is $73.62 and its two-hundred day moving average price is $75.49. RLI Corp. has a twelve month low of $69.16 and a twelve month high of $91.15.

RLI (NYSE:RLI - Get Free Report) last issued 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 for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. On average, equities research analysts anticipate that RLI Corp. will post 3.08 EPS 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 given a $0.16 dividend. 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 yield of 0.91%. The ex-dividend date of this dividend was Friday, May 30th. RLI's dividend payout ratio is presently 21.05%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RLI. JMP Securities reiterated a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Wall Street Zen upgraded shares of RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, RLI has an average rating of "Hold" and an average target price of $78.60.

Check Out Our Latest Research Report on RLI

RLI Company Profile

(Free Report)

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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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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