197,011 Shares in RLI Corp. $RLI Purchased by Woodline Partners LP

Key Points

• Woodline Partners LP has acquired a new position in RLI Corp. with an investment of approximately $15.83 million, purchasing 197,011 shares, which constitutes about 0.21% of the company.
• RLI Corp. reported earnings of $0.84 per share for the last quarter, exceeding estimates by $0.09, while their revenue increased by 20.0% year-over-year to $562.28 million.
• The company announced a quarterly dividend of $0.16 per share, with a payment date set for September 19th, reflecting a 1.0% annualized yield based on a payout ratio of 18.34%.

Woodline Partners LP acquired a new position in RLI Corp. (NYSE:RLI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 197,011 shares of the insurance provider's stock, valued at approximately $15,826,000. Woodline Partners LP owned approximately 0.21% of RLI as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of RLI. Vanguard Group Inc. raised its position in RLI by 95.2% in the first quarter. Vanguard Group Inc. now owns 8,996,643 shares of the insurance provider's stock worth $722,700,000 after acquiring an additional 4,388,400 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in RLI by 117.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,226,797 shares of the insurance provider's stock valued at $419,869,000 after purchasing an additional 2,817,616 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in RLI by 106.6% in the first quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider's stock valued at $220,967,000 after purchasing an additional 1,419,212 shares during the last quarter. Markel Group Inc. grew its holdings in RLI by 100.0% in the first quarter. Markel Group Inc. now owns 2,394,544 shares of the insurance provider's stock valued at $192,354,000 after purchasing an additional 1,197,272 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in RLI by 97.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider's stock valued at $149,569,000 after purchasing an additional 920,799 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company's stock.

RLI Price Performance

Shares of RLI traded down $0.99 during trading hours on Tuesday, reaching $64.97. 117,456 shares of the company traded hands, compared to its average volume of 513,054. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $5.97 billion, a PE ratio of 18.62 and a beta of 0.65. RLI Corp. has a fifty-two week low of $64.89 and a fifty-two week high of $91.14. The stock has a fifty day simple moving average of $67.92 and a 200 day simple moving average of $72.60.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $562.28 million for the quarter, compared to analyst estimates of $445.55 million. RLI had a return on equity of 15.82% and a net margin of 17.81%.The business's revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 earnings per share. As a group, research analysts predict that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 29th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is 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 (DPR) is presently 18.34%.

Analysts Set New Price Targets

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

Insider Activity at RLI

In related news, COO Jennifer L. Klobnak acquired 3,000 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were acquired at an average price of $69.15 per share, with a total value of $207,450.00. Following the completion of the purchase, the chief operating officer directly owned 98,450 shares in the company, valued at approximately $6,807,817.50. The trade was a 3.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.16% of the stock is currently owned by insiders.

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.