Charles Schwab Investment Management Inc. Purchases 11,255 Shares of RLI Corp. (NYSE:RLI)

Charles Schwab Investment Management Inc. boosted its stake in RLI Corp. (NYSE:RLI - Free Report) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 411,787 shares of the insurance provider's stock after acquiring an additional 11,255 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.90% of RLI worth $54,817,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Blue Trust Inc. acquired a new position in shares of RLI during the fourth quarter worth about $25,000. Gladius Capital Management LP lifted its position 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 worth $37,000 after purchasing an additional 153 shares in the last quarter. GAMMA Investing LLC acquired a new position in RLI during the fourth quarter worth $41,000. Quantbot Technologies LP bought a new position in RLI in the third quarter valued at $60,000. Finally, Duncker Streett & Co. Inc. acquired a new stake in RLI in the 4th quarter valued at $127,000. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Price Performance

RLI traded up $1.47 during trading on Friday, hitting $148.93. The stock had a trading volume of 206,340 shares, compared to its average volume of 171,758. The company has a 50 day moving average price of $144.55 and a 200-day moving average price of $140.00. RLI Corp. has a one year low of $123.04 and a one year high of $149.20. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 20.45 and a beta of 0.37.

RLI (NYSE:RLI - Get Free Report) last announced its 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 company had revenue of $444.80 million during the quarter, compared to analysts' expectations of $460.05 million. During the same quarter in the previous year, the business posted $1.63 earnings per share. RLI's quarterly revenue was up 21.9% on a year-over-year basis. As a group, sell-side analysts predict that RLI Corp. will post 5.84 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.78%. This is an increase from RLI's previous quarterly dividend of $0.27. The ex-dividend date is Friday, May 31st. RLI's dividend payout ratio is presently 14.92%.

Analysts Set New Price Targets

RLI has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on shares of RLI from $148.00 to $155.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 24th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research report on Tuesday, April 23rd. Compass Point increased their price objective on RLI from $158.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods boosted 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.25.

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.