XTX Topco Ltd Boosts Stock Position in RLI Corp. (NYSE:RLI)

XTX Topco Ltd raised its stake in RLI Corp. (NYSE:RLI - Free Report) by 882.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of RLI. Golden State Wealth Management LLC increased its position in RLI by 100.0% in 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 during the last quarter. Versant Capital Management Inc increased its position in RLI by 100.0% in the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock worth $33,000 after buying an additional 203 shares during the last quarter. Farther Finance Advisors LLC increased its position in RLI by 88.5% in the first quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock worth $38,000 after buying an additional 224 shares during the last quarter. Compass Wealth Management LLC grew its position in shares of RLI by 100.0% in the first 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. grew its position in shares of RLI by 56.8% in the first quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 192 shares in the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

RLI Stock Performance

Shares of NYSE RLI traded down $0.19 during midday trading on Friday, hitting $65.80. 942,171 shares of the stock traded hands, compared to its average volume of 796,455. The firm has a 50-day moving average of $71.74 and a two-hundred day moving average of $74.36. The firm has a market capitalization of $6.04 billion, a P/E ratio of 18.85 and a beta of 0.66. 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 one year low of $65.14 and a one year high of $91.14.

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, topping the consensus estimate of $0.75 by $0.09. RLI had a return on equity of 15.82% and a net margin of 17.81%. The firm had revenue of $562.28 million during the quarter, compared to analyst estimates of $445.55 million. During the same period in the prior year, the business posted $1.72 EPS. RLI's revenue was up 20.0% on a year-over-year basis. On average, equities analysts forecast that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, May 30th. This is a positive change from RLI's previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. RLI's dividend payout ratio (DPR) is 18.34%.

Insider Buying and Selling at RLI

In other RLI news, COO Jennifer L. Klobnak purchased 3,000 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was purchased at an average price of $69.15 per share, with a total value of $207,450.00. Following the acquisition, the chief operating officer 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 at this link. 2.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Compass Point lowered RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lowered their target price on RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. 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 company. According to MarketBeat, the stock currently has a consensus 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.