WCM Investment Management LLC Raises Holdings in RLI Corp. (NYSE:RLI)

WCM Investment Management LLC lifted its position in RLI Corp. (NYSE:RLI - Free Report) by 181.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,471 shares of the insurance provider's stock after buying an additional 28,045 shares during the period. WCM Investment Management LLC's holdings in RLI were worth $3,477,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in RLI by 100.0% in the first 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. Versant Capital Management Inc lifted its holdings 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 valued at $33,000 after purchasing an additional 203 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of RLI by 88.5% in the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock worth $38,000 after purchasing an additional 224 shares in the last quarter. ORG Partners LLC grew its stake in RLI by 100.0% during the 1st quarter. ORG Partners LLC now owns 566 shares of the insurance provider's stock worth $46,000 after buying an additional 283 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in RLI during the 4th quarter valued at about $56,000. Institutional investors own 77.89% of the company's stock.

RLI Price Performance

RLI stock traded up $1.27 during mid-day trading on Friday, reaching $71.70. 559,230 shares of the company's stock were exchanged, compared to its average volume of 387,894. The company has a market cap of $6.58 billion, a price-to-earnings ratio of 23.59 and a beta of 0.67. RLI Corp. has a 12-month low of $68.50 and a 12-month high of $91.15. The stock's 50 day moving average is $73.91 and its 200 day moving average is $75.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. The company had revenue of $36.73 million during the quarter, compared to analyst estimates of $442.20 million. RLI had a net margin of 16.22% and a return on equity of 16.26%. The firm's revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS. On average, research analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Friday, May 30th. This is an increase from RLI's previous quarterly dividend of $0.15. RLI's dividend payout ratio is 21.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Compass Point cut shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Keefe, Bruyette & Woods dropped their target price on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of RLI in a report on Thursday, April 24th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.