XTX Topco Ltd Purchases 30,435 Shares of RLI Corp. (NYSE:RLI)

XTX Topco Ltd lifted its position in RLI Corp. (NYSE:RLI - Free Report) by 882.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 33,884 shares of the insurance provider's stock after purchasing an additional 30,435 shares during the quarter. XTX Topco Ltd's holdings in RLI were worth $2,722,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in shares of RLI by 100.0% during the first 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 in the last quarter. Versant Capital Management Inc raised 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 period. Farther Finance Advisors LLC raised its holdings in RLI by 88.5% during the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 224 shares during the period. Compass Wealth Management LLC grew 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 valued at $39,000 after purchasing an additional 240 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in RLI by 56.8% during the first quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider's stock valued at $43,000 after buying an additional 192 shares during the period. Institutional investors own 77.89% of the company's stock.

Insider Activity at RLI

In other RLI news, COO Jennifer L. Klobnak bought 3,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were bought at an average price of $69.15 per share, for a total transaction of $207,450.00. Following the completion of the acquisition, the chief operating officer owned 98,450 shares of the company's stock, valued at approximately $6,807,817.50. This trade represents a 3.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.16% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RLI shares. JMP Securities restated a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a research report on Saturday. Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. One research 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $78.60.

RLI Stock Down 0.8%

Shares of RLI traded down $0.56 during midday trading on Wednesday, hitting $66.13. The company had a trading volume of 929,649 shares, compared to its average volume of 750,085. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 18.95 and a beta of 0.67. The company's 50 day moving average price is $72.25 and its 200 day moving average price is $74.56. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06. RLI Corp. has a 52 week low of $65.86 and a 52 week high of $91.14.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The insurance provider reported $0.84 earnings per share 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 analysts' expectations of $445.55 million. RLI had a net margin of 17.81% and a return on equity of 15.82%. The company's revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.72 earnings per share. On average, equities research analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 30th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.97%. This is a boost from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 30th. RLI's dividend payout ratio is currently 18.34%.

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.