Whittier Trust Co. Boosts Position in RLI Corp. (NYSE:RLI)

Whittier Trust Co. increased its holdings in shares of RLI Corp. (NYSE:RLI - Free Report) by 103.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,831 shares of the insurance provider's stock after buying an additional 94,015 shares during the period. Whittier Trust Co. owned about 0.20% of RLI worth $14,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RLI. Proficio Capital Partners LLC purchased a new position in shares of RLI during the 4th quarter valued at approximately $2,146,000. Raymond James Financial Inc. purchased a new position in shares of RLI during the 4th quarter valued at approximately $17,854,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of RLI by 17.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,114 shares of the insurance provider's stock valued at $1,832,000 after buying an additional 1,629 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of RLI by 47.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after buying an additional 159 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of RLI by 0.7% during the 4th quarter. Swiss National Bank now owns 80,900 shares of the insurance provider's stock valued at $13,335,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 77.89% of the company's stock.

RLI Price Performance

RLI stock traded up $0.50 during midday trading on Wednesday, reaching $70.39. The stock had a trading volume of 482,291 shares, compared to its average volume of 393,785. RLI Corp. has a 52-week low of $69.16 and a 52-week high of $91.15. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. The company's fifty day simple moving average is $73.38 and its 200 day simple moving average is $75.28. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 23.16 and a beta of 0.67.

RLI (NYSE:RLI - Get Free Report) last posted 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. RLI had a return on equity of 16.26% and a net margin of 16.22%. The business had revenue of $36.73 million for the quarter, compared to analyst estimates of $442.20 million. During the same quarter in the previous year, the firm earned $0.95 EPS. The company's quarterly revenue was down 8.3% compared to the same quarter last year. As a group, sell-side analysts predict that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 30th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Friday, May 30th. This is a positive change from RLI's previous quarterly dividend of $0.15. RLI's payout ratio is currently 21.05%.

Wall Street Analysts Forecast Growth

RLI has been the topic of a number of research reports. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Compass Point lowered RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Keefe, Bruyette & Woods decreased their price objective on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, JMP Securities restated a "market perform" rating on shares of RLI in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target 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.