Swiss National Bank Decreases Position in RLI Corp. (NYSE:RLI)

Swiss National Bank reduced its stake in RLI Corp. (NYSE:RLI - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,900 shares of the insurance provider's stock after selling 9,300 shares during the period. Swiss National Bank owned 0.18% of RLI worth $10,769,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Resonant Capital Advisors LLC boosted its stake in RLI by 1.7% during the 3rd quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider's stock valued at $642,000 after purchasing an additional 77 shares during the period. Treasurer of the State of North Carolina lifted its holdings in RLI by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 17,660 shares of the insurance provider's stock worth $2,400,000 after purchasing an additional 90 shares during the period. Brookstone Capital Management increased its stake in RLI by 6.4% during the 4th quarter. Brookstone Capital Management now owns 1,906 shares of the insurance provider's stock valued at $254,000 after buying an additional 114 shares during the period. Diversified Trust Co lifted its stake in shares of RLI by 2.9% in the 3rd quarter. Diversified Trust Co now owns 5,261 shares of the insurance provider's stock worth $715,000 after acquiring an additional 150 shares during the period. Finally, Gladius Capital Management LP boosted its holdings in shares of RLI by 129.7% in the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider's stock valued at $37,000 after acquiring an additional 153 shares in the last quarter. 77.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JMP Securities reissued a "market perform" rating on shares of RLI in a report on Tuesday, April 23rd. Royal Bank of Canada upped their price objective on RLI from $148.00 to $155.00 and gave the company a "sector perform" rating in a report on Wednesday, April 24th. Compass Point lifted their target price on RLI from $158.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods raised their target price on shares of RLI from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $163.25.

RLI Price Performance

NYSE RLI traded down $2.94 on Monday, hitting $145.12. 124,906 shares of the company were exchanged, compared to its average volume of 173,473. RLI Corp. has a twelve month low of $123.04 and a twelve month high of $149.20. The company's 50 day moving average price is $144.67 and its 200-day moving average price is $139.73. The firm has a market capitalization of $6.63 billion, a P/E ratio of 20.04 and a beta of 0.37.

RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.26. RLI had a net margin of 20.96% and a return on equity of 17.24%. The business had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. During the same quarter in the previous year, the business earned $1.63 earnings per share. The firm's revenue was up 21.9% compared to the same quarter last year. As a group, equities analysts expect that RLI Corp. will post 5.83 EPS for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, May 31st will be paid a $0.29 dividend. This is an increase from RLI's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, May 31st. RLI's dividend payout ratio is currently 16.02%.

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.