RLI Corp. (NYSE:RLI) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 99.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 254,940 shares of the insurance provider's stock after buying an additional 127,217 shares during the period. Victory Capital Management Inc. owned 0.28% of RLI worth $20,479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC lifted its stake 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 acquiring an additional 186 shares in the last quarter. Versant Capital Management Inc lifted its stake in RLI by 100.0% during the 1st 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 lifted its stake in RLI by 88.5% during the 1st 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. Compass Wealth Management LLC lifted its stake in RLI by 100.0% during the 1st quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider's stock worth $39,000 after acquiring an additional 240 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its stake in RLI by 56.8% during the 1st 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. Institutional investors and hedge funds own 77.89% of the company's stock.

Wall Street Analysts Forecast Growth

RLI has been the topic of several research reports. JMP Securities reissued a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. Compass Point lowered RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Keefe, Bruyette & Woods cut their price target on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $78.60.

RLI Stock Down 0.0%

Shares of RLI traded down $0.00 during mid-day trading on Friday, reaching $67.78. The company's stock had a trading volume of 846,174 shares, compared to its average volume of 742,861. RLI Corp. has a 12-month low of $67.12 and a 12-month high of $91.14. The stock has a market cap of $6.22 billion, a PE ratio of 19.42 and a beta of 0.67. 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 company's 50 day moving average is $72.62 and its 200 day moving average is $74.68.

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

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.94%. This is an increase from RLI's previous quarterly dividend of $0.15. RLI's dividend payout ratio is presently 18.34%.

Insider Transactions at RLI

In other news, COO Jennifer L. Klobnak purchased 3,000 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were 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 represents a 3.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.16% of the stock is owned by corporate insiders.

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.