Teachers Retirement System of The State of Kentucky Acquires 12,236 Shares of RLI Corp. (NYSE:RLI)

Teachers Retirement System of The State of Kentucky boosted its position in RLI Corp. (NYSE:RLI - Free Report) by 100.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,472 shares of the insurance provider's stock after buying an additional 12,236 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in RLI were worth $1,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RLI. Illinois Municipal Retirement Fund raised its position in shares of RLI by 100.0% during the first quarter. Illinois Municipal Retirement Fund now owns 19,526 shares of the insurance provider's stock worth $1,569,000 after purchasing an additional 9,763 shares during the period. New York State Teachers Retirement System lifted its stake in shares of RLI by 99.6% in the first quarter. New York State Teachers Retirement System now owns 112,616 shares of the insurance provider's stock valued at $9,046,000 after buying an additional 56,208 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of RLI by 100.0% during the first quarter. Brown Advisory Inc. now owns 13,224 shares of the insurance provider's stock valued at $1,062,000 after buying an additional 6,612 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of RLI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock worth $30,000 after acquiring an additional 186 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of RLI by 112.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,871 shares of the insurance provider's stock worth $311,000 after acquiring an additional 2,047 shares during the last quarter. Institutional investors own 77.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RLI. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods cut 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 lowered RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of RLI in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $78.60.

RLI Stock Performance

Shares of NYSE RLI traded down $1.34 during mid-day trading on Thursday, reaching $67.84. 2,287,588 shares of the company's stock were exchanged, compared to its average volume of 658,484. The firm has a 50-day moving average price of $72.78 and a two-hundred day moving average price of $74.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.34 and a quick ratio of 0.35. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 19.44 and a beta of 0.67. RLI Corp. has a 52 week low of $67.12 and a 52 week high of $91.14.

RLI (NYSE:RLI - Get Free Report) last released its earnings results on Monday, July 21st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. The business had revenue of $562.28 million during the quarter, compared to the consensus estimate of $445.55 million. RLI had a return on equity of 15.82% and a net margin of 17.81%. The business's revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the business posted $1.72 earnings per share. Analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were paid 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 0.94%. The ex-dividend date was Friday, May 30th. RLI's payout ratio is currently 18.34%.

Insider Buying and Selling

In other RLI news, COO Jennifer L. Klobnak bought 3,000 shares of the business's stock in a transaction on Thursday, July 24th. The stock was purchased at an average price of $69.15 per share, for a total transaction of $207,450.00. Following the completion of the transaction, the chief operating officer directly owned 98,450 shares of the company's stock, valued at $6,807,817.50. This trade represents a 3.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.16% of the stock is currently owned by company insiders.

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.