Focus Financial Network Inc. ADV Invests $248,000 in RLI Corp. (NYSE:RLI)

Focus Financial Network Inc. ADV purchased a new position in RLI Corp. (NYSE:RLIFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,862 shares of the insurance provider’s stock, valued at approximately $248,000.

Other large investors have also recently made changes to their positions in the company. QRG Capital Management Inc. bought a new position in shares of RLI in the 3rd quarter worth $661,000. Principal Financial Group Inc. increased its position in RLI by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 168,210 shares of the insurance provider’s stock valued at $22,392,000 after buying an additional 5,113 shares in the last quarter. Envestnet Asset Management Inc. increased its position in RLI by 28.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 76,124 shares of the insurance provider’s stock valued at $10,344,000 after buying an additional 16,725 shares in the last quarter. JPMorgan Chase & Co. increased its position in RLI by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock valued at $147,097,000 after buying an additional 11,965 shares in the last quarter. Finally, Commerce Bank increased its position in RLI by 1.7% during the 4th quarter. Commerce Bank now owns 4,419 shares of the insurance provider’s stock valued at $588,000 after buying an additional 75 shares in the last quarter. 77.89% of the stock is owned by institutional investors.

RLI Stock Performance

RLI stock opened at $143.20 on Tuesday. The business’s 50-day simple moving average is $144.29 and its two-hundred day simple moving average is $141.03. The company has a market cap of $6.55 billion, a PE ratio of 19.78 and a beta of 0.41. RLI Corp. has a fifty-two week low of $125.60 and a fifty-two week high of $149.20.

RLI (NYSE:RLIGet Free Report) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. RLI had a return on equity of 17.24% and a net margin of 20.96%. The business had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. During the same quarter in the previous year, the business earned $1.63 EPS. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, analysts predict that RLI Corp. will post 5.84 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, May 31st will be paid a $0.29 dividend. This is an increase from RLI’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.81%. RLI’s dividend payout ratio is presently 16.02%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Royal Bank of Canada upped their target price on RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods upped their target price on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Compass Point upped their target price on RLI from $158.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RLI has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

Read Our Latest Analysis on RLI

RLI Profile

(Free Report)

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.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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