Xponance Inc. Reduces Position in RLI Corp. (NYSE:RLI)

Xponance Inc. decreased its holdings in shares of RLI Corp. (NYSE:RLI) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,702 shares of the insurance provider’s stock after selling 115 shares during the quarter. Xponance Inc.’s holdings in RLI were worth $759,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of RLI. Blue Trust Inc. purchased a new stake in shares of RLI during the fourth quarter worth $25,000. Gladius Capital Management LP grew its holdings in shares of RLI by 129.7% during the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after buying an additional 153 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of RLI during the third quarter worth $60,000. Duncker Streett & Co. Inc. purchased a new stake in shares of RLI during the fourth quarter worth $127,000. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of RLI by 12.6% during the third quarter. Harbor Capital Advisors Inc. now owns 1,072 shares of the insurance provider’s stock worth $146,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Trading Down 0.8 %

Shares of RLI opened at $146.51 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.70 billion, a P/E ratio of 20.24 and a beta of 0.37. The firm has a 50-day moving average price of $144.72 and a 200 day moving average price of $138.97. RLI Corp. has a 12-month low of $123.04 and a 12-month high of $149.20.

RLI (NYSE:RLI) last announced its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.26. The company had revenue of $444.80 million during the quarter, compared to analyst estimates of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. RLI’s revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. Sell-side analysts forecast that RLI Corp. will post 5.64 EPS for the current year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Wednesday, February 28th. RLI’s dividend payout ratio (DPR) is presently 14.92%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RLI. Compass Point upped their price objective on shares of RLI from $158.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Royal Bank of Canada upped their price objective on shares of RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, JMP Securities reissued a “market perform” rating on shares of RLI in a report on Tuesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average 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.