RLI Corp. (NYSE:RLI) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its stake in RLI Corp. (NYSE:RLI) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,576 shares of the insurance provider’s stock after acquiring an additional 87 shares during the period. Commonwealth Equity Services LLC owned 0.07% of RLI worth $4,462,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in RLI. Eagle Bay Advisors LLC acquired a new stake in shares of RLI in the 2nd quarter worth about $25,000. Compass Wealth Management LLC bought a new position in RLI in the 4th quarter worth about $32,000. HM Payson & Co. acquired a new stake in shares of RLI in the first quarter valued at approximately $48,000. Bessemer Group Inc. raised its holdings in shares of RLI by 47.5% during the first quarter. Bessemer Group Inc. now owns 376 shares of the insurance provider’s stock valued at $50,000 after buying an additional 121 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of RLI during the second quarter worth approximately $65,000. 79.23% of the stock is owned by institutional investors.

RLI Trading Up 1.4 %

Shares of NYSE:RLI opened at $133.30 on Friday. The company has a 50 day moving average of $134.38 and a 200-day moving average of $133.16. The firm has a market cap of $6.08 billion, a P/E ratio of 8.56 and a beta of 0.42. RLI Corp. has a twelve month low of $100.96 and a twelve month high of $149.65.

RLI (NYSE:RLI) last released its earnings results on Monday, July 24th. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.03). RLI had a return on equity of 16.97% and a net margin of 36.31%. The firm had revenue of $381.86 million during the quarter, compared to analyst estimates of $358.35 million. During the same quarter last year, the company earned $1.49 earnings per share. Equities research analysts forecast that RLI Corp. will post 4.51 EPS for the current year.

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Thursday, August 31st will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.08 annualized dividend and a yield of 0.81%. RLI’s dividend payout ratio is currently 6.93%.

Wall Street Analyst Weigh In

Several analysts recently commented on RLI shares. StockNews.com assumed coverage on RLI in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Compass Point raised their price target on RLI from $165.00 to $170.00 in a report on Thursday, July 27th.

RLI Profile

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.