Xponance Inc. Boosts Holdings in RLI Corp. (NYSE:RLI)

Xponance Inc. grew its stake in RLI Corp. (NYSE:RLI - Free Report) by 102.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,922 shares of the insurance provider's stock after purchasing an additional 5,013 shares during the quarter. Xponance Inc.'s holdings in RLI were worth $797,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of RLI by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 4,608,243 shares of the insurance provider's stock worth $759,577,000 after acquiring an additional 41,884 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of RLI by 1.5% in the 4th quarter. Neuberger Berman Group LLC now owns 1,331,526 shares of the insurance provider's stock worth $219,475,000 after acquiring an additional 19,695 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of RLI by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 1,024,518 shares of the insurance provider's stock worth $168,907,000 after acquiring an additional 116,088 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of RLI by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 941,185 shares of the insurance provider's stock worth $155,136,000 after acquiring an additional 7,609 shares in the last quarter. Finally, Port Capital LLC increased its stake in shares of RLI by 0.9% in the 4th quarter. Port Capital LLC now owns 766,668 shares of the insurance provider's stock worth $126,370,000 after acquiring an additional 6,680 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Performance

Shares of NYSE RLI traded down $0.15 during trading on Thursday, reaching $70.30. 620,413 shares of the company traded hands, compared to its average volume of 394,683. The firm has a 50 day simple moving average of $73.38 and a 200-day simple moving average of $75.28. 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 $6.45 billion, a PE ratio of 23.13 and a beta of 0.67. RLI Corp. has a 52-week low of $69.16 and a 52-week high of $91.15.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $36.73 million for the quarter, compared to the consensus estimate of $442.20 million. RLI had a net margin of 16.22% and a return on equity of 16.26%. The business's quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. Equities research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were issued a $0.16 dividend. This is an increase from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.91%. RLI's dividend payout ratio (DPR) is presently 21.05%.

Analyst Upgrades and Downgrades

RLI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. 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 lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, JMP Securities restated a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, RLI currently 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.