Envestnet Asset Management Inc. Boosts Holdings in RLI Corp. (NYSE:RLI)

Envestnet Asset Management Inc. grew its holdings in RLI Corp. (NYSE:RLIGet Rating) by 0.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,198 shares of the insurance provider’s stock after buying an additional 330 shares during the period. Envestnet Asset Management Inc. owned 0.15% of RLI worth $7,951,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Aigen Investment Management LP raised its position in shares of RLI by 50.5% in the second quarter. Aigen Investment Management LP now owns 4,983 shares of the insurance provider’s stock valued at $581,000 after buying an additional 1,672 shares during the last quarter. HighTower Advisors LLC raised its position in shares of RLI by 3.0% in the first quarter. HighTower Advisors LLC now owns 24,352 shares of the insurance provider’s stock valued at $2,694,000 after buying an additional 700 shares during the last quarter. Van ECK Associates Corp increased its position in RLI by 15.9% during the first quarter. Van ECK Associates Corp now owns 1,052 shares of the insurance provider’s stock worth $116,000 after purchasing an additional 144 shares during the last quarter. Summit Global Investments acquired a new stake in RLI during the first quarter worth about $668,000. Finally, Destiny Wealth Partners LLC increased its position in RLI by 118.8% during the second quarter. Destiny Wealth Partners LLC now owns 1,932 shares of the insurance provider’s stock worth $225,000 after purchasing an additional 1,049 shares during the last quarter. 81.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RLI has been the subject of several recent analyst reports. Compass Point cut their price objective on shares of RLI to $150.00 in a research report on Wednesday, October 5th. StockNews.com initiated coverage on shares of RLI in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $132.67.

RLI Price Performance

Shares of RLI opened at $130.96 on Wednesday. RLI Corp. has a 1-year low of $96.22 and a 1-year high of $133.96. The stock has a market cap of $5.94 billion, a PE ratio of 10.32 and a beta of 0.46. The firm has a 50-day simple moving average of $112.89 and a two-hundred day simple moving average of $114.15. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.56 and a quick ratio of 0.56.

RLI (NYSE:RLIGet Rating) last announced its quarterly earnings results on Thursday, October 20th. The insurance provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.39). RLI had a net margin of 34.98% and a return on equity of 17.73%. During the same quarter last year, the firm earned $0.65 EPS. As a group, analysts forecast that RLI Corp. will post 4.49 EPS for the current year.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Tuesday, August 30th. RLI’s dividend payout ratio is presently 8.20%.

RLI Profile

(Get Rating)

RLI Corp. operates as a holding company, which engages in the provision of insurance and underwriting services. It operates through the following segments: Casualty, Property and Surety. The Casualty segment offers healthcare and transportation insurance. The Property segment consists of commercial fire, earthquake, difference in conditions, marine, facultative and treaty reinsurance, including crop and select personal lines policies, including pet insurance and homeowners reinsurance services.

Recommended Stories

Want to see what other hedge funds are holding RLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RLI Corp. (NYSE:RLIGet Rating).

Institutional Ownership by Quarter for RLI (NYSE:RLI)

Receive News & Ratings for RLI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLI and related companies with MarketBeat.com's FREE daily email newsletter.