Van Hulzen Asset Management LLC Has $1.41 Million Stake in RLI Corp. $RLI

Key Points

• Van Hulzen Asset Management LLC increased its stake in RLI Corp. by 91.5%, holding a total of 17,519 shares valued at $1.41 million at the end of the recent quarter.
• A recent analysis revealed that RLI's shares currently hold a consensus rating of "Hold", with a target price of $78.60.
• RLI Corp. has announced a quarterly dividend of $0.16 per share, with a yield of 0.9%, payable on September 19th.

Van Hulzen Asset Management LLC boosted its holdings in RLI Corp. (NYSE:RLI - Free Report) by 91.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,519 shares of the insurance provider's stock after purchasing an additional 8,369 shares during the quarter. Van Hulzen Asset Management LLC's holdings in RLI were worth $1,407,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RLI. Golden State Wealth Management LLC lifted its stake in shares of RLI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock valued at $30,000 after buying an additional 186 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of RLI by 56.8% during the first quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider's stock worth $43,000 after acquiring an additional 192 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of RLI by 100.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider's stock worth $32,000 after acquiring an additional 198 shares during the last quarter. Versant Capital Management Inc lifted its position in 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 acquiring an additional 203 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in 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 acquiring an additional 224 shares in the last quarter. Institutional investors own 77.89% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on RLI shares. Compass Point lowered RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, RLI presently has a consensus rating of "Hold" and a consensus target price of $78.60.

Insiders Place Their Bets

In other RLI news, COO Jennifer L. Klobnak acquired 3,000 shares of RLI 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 purchase, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.16% of the company's stock.

RLI Trading Up 0.2%

Shares of RLI stock opened at $68.5550 on Friday. 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 capitalization of $6.30 billion, a price-to-earnings ratio of 19.64 and a beta of 0.66. RLI Corp. has a 52-week low of $65.14 and a 52-week high of $91.14. The company has a 50-day simple moving average of $69.37 and a two-hundred day simple moving average of $73.55.

RLI (NYSE:RLI - Get Free Report) last posted its earnings results 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 net margin of 17.81% and a return on equity of 15.82%. The firm had revenue of $562.28 million for the quarter, compared to analysts' expectations of $445.55 million. During the same quarter last year, the firm earned $1.72 EPS. The company's quarterly revenue was up 20.0% compared to the same quarter last year. Research analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 29th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.64 annualized dividend and a yield of 0.9%. RLI's payout ratio is currently 18.34%.

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.

Want to see what other hedge funds are holding RLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RLI Corp. (NYSE:RLI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.