Voya Investment Management LLC Has $1.26 Million Stock Position in RLI Corp. $RLI

Key Points

• Voya Investment Management LLC significantly increased its stake in RLI Corp. by 108.8% during the 1st quarter, bringing its total holdings to worth $1.26 million.
• RLI Corp. reported a quarterly earnings per share (EPS) of $0.84, surpassing analysts' expectations of $0.75, with a 20% year-over-year increase in revenue.
• The company declared a quarterly dividend of $0.16 per share, resulting in an annualized dividend yield of 1.0%.

Voya Investment Management LLC increased its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 108.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,687 shares of the insurance provider's stock after buying an additional 8,174 shares during the period. Voya Investment Management LLC's holdings in RLI were worth $1,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RLI. Golden State Wealth Management LLC raised its holdings 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 purchasing an additional 186 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of RLI by 100.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider's stock worth $32,000 after buying an additional 198 shares during the period. Versant Capital Management Inc grew its position in shares of 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 buying an additional 203 shares during the period. Farther Finance Advisors LLC grew its position in shares of 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 buying an additional 224 shares during the period. Finally, Compass Wealth Management LLC grew its position in shares of 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 buying an additional 240 shares during the period. Institutional investors and hedge funds own 77.89% of the company's stock.

Insider Activity at RLI

In other RLI news, COO Jennifer L. Klobnak bought 3,000 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was acquired at an average cost of $69.15 per share, with a total value of $207,450.00. Following the purchase, the chief operating officer owned 98,450 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. 2.16% of the stock is currently owned by company insiders.

RLI Stock Performance

Shares of RLI stock opened at $64.68 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $5.94 billion, a PE ratio of 18.53 and a beta of 0.65. The stock has a 50-day moving average of $67.25 and a 200-day moving average of $72.17. RLI Corp. has a one year low of $64.58 and a one year high of $91.14.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The insurance provider reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. The company had revenue of $562.28 million during 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%.RLI'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 EPS. As a group, sell-side analysts expect that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. RLI's dividend payout ratio is 18.34%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of RLI from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $78.60.

About RLI

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.

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