Vident Advisory LLC Acquires 6,468 Shares of RLI Corp. $RLI

Key Points

• Vident Advisory LLC increased its stake in RLI Corp. by 108.8% during Q1, acquiring an additional 6,468 shares for a total worth of approximately $997,000.
• RLI Corp. reported a Q2 earnings per share of $0.84, exceeding analysts' expectations of $0.75, with a revenue increase of 20% year-over-year.
• The company declared a quarterly dividend of $0.16, which will be paid on September 19th, indicating a 1.0% yield with a payout ratio of 18.34%.

Vident Advisory LLC grew its holdings in shares of RLI Corp. (NYSE:RLI - Free Report) by 108.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,411 shares of the insurance provider's stock after acquiring an additional 6,468 shares during the quarter. Vident Advisory LLC's holdings in RLI were worth $997,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RLI. Golden State Wealth Management LLC raised its stake in 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. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in RLI by 100.0% during the first 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 in the last quarter. Versant Capital Management Inc raised its stake in 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 stake in 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 in the last quarter. Finally, Compass Wealth Management LLC raised its stake in RLI by 100.0% during the first 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. Institutional investors and hedge funds own 77.89% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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 given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, RLI currently has a consensus rating of "Hold" and a consensus price target of $78.60.

Insider Activity

In other RLI news, COO Jennifer L. Klobnak purchased 3,000 shares of the business's stock in a transaction on Thursday, July 24th. The shares were purchased at an average cost of $69.15 per share, for a total transaction of $207,450.00. Following the acquisition, the chief operating officer owned 98,450 shares of the company's stock, valued at approximately $6,807,817.50. This represents a 3.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.16% of the company's stock.

RLI Trading Down 0.9%

RLI stock traded down $0.64 during trading on Tuesday, hitting $67.59. The company had a trading volume of 134,857 shares, compared to its average volume of 513,412. The business has a 50-day moving average of $68.39 and a 200-day moving average of $72.91. RLI Corp. has a one year low of $65.14 and a one year high of $91.14. The stock has a market cap of $6.21 billion, a PE ratio of 19.37 and a beta of 0.65. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06.

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

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 29th. RLI's dividend payout ratio is presently 18.34%.

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.