5,348 Shares in RLI Corp. $RLI Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association has acquired a new stake of 5,348 shares in RLI Corp., valued at approximately $428,000.
• Other institutional investors have significantly increased their positions in RLI Corp., with Illinois Municipal Retirement Fund and New York State Teachers Retirement System each raising their holdings by around 100%.
• RLI Corp. reported strong quarterly earnings, with revenue up 20% year-over-year and an EPS of $0.84, exceeding analyst expectations.

United Services Automobile Association purchased a new position in RLI Corp. (NYSE:RLI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,348 shares of the insurance provider's stock, valued at approximately $428,000.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC increased its stake in RLI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock worth $30,000 after purchasing an additional 186 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of RLI by 100.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 198 shares in the last quarter. Versant Capital Management Inc boosted its holdings in RLI by 100.0% in 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 boosted its holdings in RLI by 88.5% in 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 in the last quarter. Finally, Compass Wealth Management LLC raised its stake in shares of RLI by 100.0% in the first quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider's stock worth $39,000 after purchasing an additional 240 shares during the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

RLI Stock Performance

Shares of NYSE RLI traded down $0.99 during trading on Tuesday, hitting $64.97. The company had a trading volume of 117,456 shares, compared to its average volume of 513,054. The stock has a 50 day simple moving average of $67.92 and a 200 day simple moving average of $72.60. 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 Corp. has a 12 month low of $64.89 and a 12 month high of $91.14. The firm has a market capitalization of $5.97 billion, a P/E ratio of 18.62 and a beta of 0.65.

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

RLI Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 29th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. RLI's dividend payout ratio (DPR) is currently 18.34%.

Insider Activity

In other RLI news, COO Jennifer L. Klobnak bought 3,000 shares of the business's stock in a transaction that occurred 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 owned 98,450 shares of the company's stock, valued at $6,807,817.50. This trade represents a 3.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.16% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average 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.