Stifel Financial Corp Has $6.94 Million Position in RLI Corp. (NYSE:RLI)

Stifel Financial Corp grew its holdings in RLI Corp. (NYSE:RLIFree Report) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,131 shares of the insurance provider’s stock after buying an additional 1,463 shares during the quarter. Stifel Financial Corp owned approximately 0.11% of RLI worth $6,940,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. bought a new position in shares of RLI in the fourth quarter worth about $25,000. Gladius Capital Management LP raised its position in RLI by 129.7% in the 3rd quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 153 shares during the last quarter. GAMMA Investing LLC acquired a new position in RLI during the 4th quarter worth $41,000. Quantbot Technologies LP bought a new position in RLI in the 3rd quarter valued at $60,000. Finally, Duncker Streett & Co. Inc. acquired a new stake in shares of RLI in the 4th quarter valued at $127,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Price Performance

Shares of NYSE:RLI opened at $142.29 on Friday. The firm’s 50 day simple moving average is $143.86 and its 200 day simple moving average is $141.17. RLI Corp. has a fifty-two week low of $125.77 and a fifty-two week high of $149.20. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 19.65 and a beta of 0.41.

RLI (NYSE:RLIGet Free Report) last posted 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. RLI had a net margin of 20.96% and a return on equity of 17.24%. The company had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. During the same period last year, the business posted $1.63 earnings per share. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities research analysts expect that RLI Corp. will post 5.84 earnings per share for the current year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be issued a $0.29 dividend. This is an increase from RLI’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, May 31st. RLI’s dividend payout ratio is 16.02%.

Analysts Set New Price Targets

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

Read Our Latest Stock 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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