Whittier Trust Co. of Nevada Inc. Acquires 50,951 Shares of RLI Corp. (NYSE:RLI)

Whittier Trust Co. of Nevada Inc. increased its holdings in shares of RLI Corp. (NYSE:RLI - Free Report) by 107.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,365 shares of the insurance provider's stock after acquiring an additional 50,951 shares during the period. Whittier Trust Co. of Nevada Inc. owned about 0.11% of RLI worth $7,902,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RLI. Golden State Wealth Management LLC lifted its position in shares of 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 buying an additional 186 shares during the period. Versant Capital Management Inc grew its holdings in shares of RLI by 100.0% in the 1st quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock worth $33,000 after purchasing an additional 203 shares during the last quarter. Farther Finance Advisors LLC grew its holdings 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 during the last quarter. Compass Wealth Management LLC increased 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 purchasing an additional 240 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in 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 purchasing an additional 159 shares during the last quarter. Institutional investors own 77.89% of the company's stock.

RLI Trading Down 1.3%

RLI traded down $0.89 during trading on Tuesday, reaching $69.94. 529,966 shares of the company's stock were exchanged, compared to its average volume of 393,432. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35. RLI Corp. has a fifty-two week low of $69.16 and a fifty-two week high of $91.15. The company's fifty day moving average price is $73.55 and its 200-day moving average price is $75.35. The firm has a market capitalization of $6.42 billion, a PE ratio of 23.01 and a beta of 0.67.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. RLI had a return on equity of 16.26% and a net margin of 16.22%. The company had revenue of $36.73 million during the quarter, compared to analysts' expectations of $442.20 million. During the same period in the prior year, the business posted $0.95 EPS. RLI's revenue was down 8.3% on a year-over-year basis. As a group, equities analysts forecast that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 30th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.92%. This is a boost from RLI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, May 30th. RLI's dividend payout ratio (DPR) is currently 21.05%.

Analyst Ratings Changes

RLI has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of RLI from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Compass Point cut shares of RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. JMP Securities reiterated a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods dropped their target price on RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $78.60.

RLI Company 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.