Baird Financial Group Inc. Boosts Stake in RLI Corp. (NYSE:RLI)

Baird Financial Group Inc. lifted its holdings in RLI Corp. (NYSE:RLIGet Rating) by 50.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,887 shares of the insurance provider’s stock after buying an additional 4,968 shares during the period. Baird Financial Group Inc.’s holdings in RLI were worth $1,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in RLI by 44.0% during the first quarter. Parallel Advisors LLC now owns 350 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 107 shares during the period. HM Payson & Co. purchased a new position in RLI during the first quarter worth about $40,000. Simplex Trading LLC purchased a new position in RLI during the first quarter worth about $81,000. Covestor Ltd raised its stake in RLI by 52.4% during the first quarter. Covestor Ltd now owns 759 shares of the insurance provider’s stock worth $84,000 after purchasing an additional 261 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new position in RLI during the first quarter worth about $89,000. 81.15% of the stock is owned by hedge funds and other institutional investors.

RLI Price Performance

Shares of RLI opened at $130.20 on Friday. RLI Corp. has a 1-year low of $96.22 and a 1-year high of $134.80. The stock has a market cap of $5.91 billion, a PE ratio of 10.26 and a beta of 0.46. The firm has a 50-day simple moving average of $115.53 and a two-hundred day simple moving average of $114.85. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Wednesday, November 30th will be issued a $7.26 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $29.04 dividend on an annualized basis and a dividend yield of 22.30%. This is a boost from RLI’s previous quarterly dividend of $0.26. RLI’s payout ratio is 8.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RLI shares. Compass Point reduced their target price on shares of RLI to $150.00 in a research note on Wednesday, October 5th. StockNews.com started coverage on shares of RLI in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

RLI Company Profile

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RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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