Wipfli Financial Advisors LLC Invests $42,000 in RLI Corp. (NYSE:RLI)

Wipfli Financial Advisors LLC purchased a new position in shares of RLI Corp. (NYSE:RLIGet Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 408 shares of the insurance provider’s stock, valued at approximately $42,000.

Several other large investors have also modified their holdings of the stock. Eagle Bay Advisors LLC bought a new position in RLI in the second quarter worth about $25,000. Parallel Advisors LLC lifted its holdings in RLI by 30.3% in the second quarter. Parallel Advisors LLC now owns 456 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 106 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of RLI in the second quarter valued at approximately $65,000. Covestor Ltd increased its stake in shares of RLI by 52.4% in the first quarter. Covestor Ltd now owns 759 shares of the insurance provider’s stock valued at $84,000 after purchasing an additional 261 shares during the period. Finally, Private Trust Co. NA acquired a new stake in shares of RLI in the second quarter valued at approximately $143,000. Institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RLI. StockNews.com began coverage on shares of RLI in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Compass Point dropped their price target on shares of RLI to $150.00 in a research note on Wednesday, October 5th.

RLI Price Performance

NYSE RLI opened at $137.38 on Wednesday. RLI Corp. has a 12 month low of $96.22 and a 12 month high of $140.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $6.23 billion, a PE ratio of 10.83 and a beta of 0.46. The company’s 50 day simple moving average is $131.35 and its 200 day simple moving average is $119.67.

RLI (NYSE:RLIGet Rating) last posted its quarterly earnings data on Wednesday, October 19th. The insurance provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.17. RLI had a net margin of 34.98% and a return on equity of 17.73%. The business had revenue of $312.74 million for the quarter, compared to analyst estimates of $431.95 million. During the same quarter last year, the business earned $0.65 earnings per share. As a group, equities research analysts forecast that RLI Corp. will post 4.49 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 20th. Investors of record on Wednesday, November 30th were paid a dividend of $7.26 per share. This represents a $29.04 dividend on an annualized basis and a dividend yield of 21.14%. The ex-dividend date was Tuesday, November 29th. This is a positive change from RLI’s previous quarterly dividend of $0.26. RLI’s dividend payout ratio (DPR) is currently 8.20%.

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.

See Also

Institutional Ownership by Quarter for RLI (NYSE:RLI)

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