Yousif Capital Management LLC Has $2.35 Million Holdings in RLI Corp. (NYSE:RLI)

Yousif Capital Management LLC increased its position in shares of RLI Corp. (NYSE:RLI - Free Report) by 95.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,201 shares of the insurance provider's stock after purchasing an additional 14,257 shares during the quarter. Yousif Capital Management LLC's holdings in RLI were worth $2,346,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Empowered Funds LLC bought a new stake in RLI during the 4th quarter worth about $840,000. Van ECK Associates Corp grew its holdings in RLI by 34.1% during the 4th quarter. Van ECK Associates Corp now owns 36,613 shares of the insurance provider's stock worth $6,035,000 after acquiring an additional 9,320 shares during the last quarter. Vista Finance LLC bought a new stake in RLI during the 4th quarter worth about $345,000. Everhart Financial Group Inc. grew its holdings in RLI by 10.0% during the 4th quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider's stock worth $269,000 after acquiring an additional 148 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in RLI by 378.2% during the 4th quarter. Allworth Financial LP now owns 2,616 shares of the insurance provider's stock worth $431,000 after acquiring an additional 2,069 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Trading Down 1.8%

Shares of NYSE RLI traded down $1.37 during mid-day trading on Friday, hitting $73.03. The company's stock had a trading volume of 337,159 shares, compared to its average volume of 374,623. The company's fifty day simple moving average is $75.27 and its 200-day simple moving average is $77.33. RLI Corp. has a one year low of $68.50 and a one year high of $91.15. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 19.50 and a beta of 0.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38.

RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.04. The business had revenue of $36.73 million for the quarter, compared to analyst estimates of $442.20 million. RLI had a net margin of 19.53% and a return on equity of 16.63%. RLI's quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 EPS. On average, sell-side analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.16 per share. This is an increase from RLI's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, May 30th. RLI's dividend payout ratio (DPR) is 21.05%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. JMP Securities reissued 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 note on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.