Teacher Retirement System of Texas Buys 36,163 Shares of RLI Corp. (NYSE:RLI)

Teacher Retirement System of Texas boosted its holdings in shares of RLI Corp. (NYSE:RLI - Free Report) by 68.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,922 shares of the insurance provider's stock after acquiring an additional 36,163 shares during the period. Teacher Retirement System of Texas owned approximately 0.10% of RLI worth $7,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of RLI. Golden State Wealth Management LLC raised its holdings in RLI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock worth $30,000 after buying an additional 186 shares during the period. Versant Capital Management Inc increased its position in shares of RLI by 100.0% during the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock worth $33,000 after acquiring an additional 203 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of RLI by 88.5% during the first quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock worth $38,000 after acquiring an additional 224 shares during the period. ORG Partners LLC lifted its position in RLI by 100.0% in the 1st quarter. ORG Partners LLC now owns 566 shares of the insurance provider's stock valued at $46,000 after acquiring an additional 283 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in RLI in the 4th quarter worth $56,000. Institutional investors own 77.89% of the company's stock.

RLI Stock Down 1.0%

NYSE RLI traded down $0.73 during trading hours on Monday, hitting $70.97. 39,941 shares of the company traded hands, compared to its average volume of 468,971. 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 business's 50-day moving average is $73.91 and its 200-day moving average is $75.87. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 23.35 and a beta of 0.67. RLI Corp. has a twelve month low of $68.50 and a twelve month high of $91.14.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $36.73 million during the quarter, compared to analysts' expectations of $442.20 million. RLI had a net margin of 16.22% and a return on equity of 16.26%. The company's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 earnings per share. Sell-side analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.90%. This is a boost from RLI's previous quarterly dividend of $0.15. RLI's dividend payout ratio (DPR) is presently 21.05%.

Analysts Set New Price Targets

Several research firms have issued reports on RLI. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods dropped their target price on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Compass Point cut RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently 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.