1,075 Shares in RLI Corp. (NYSE:RLI) Bought by SG Americas Securities LLC

SG Americas Securities LLC purchased a new stake in shares of RLI Corp. (NYSE:RLI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,075 shares of the insurance provider’s stock, valued at approximately $151,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Maren Capital LLC increased its stake in shares of RLI by 21.3% in the 1st quarter. Maren Capital LLC now owns 612,081 shares of the insurance provider’s stock valued at $90,876,000 after purchasing an additional 107,655 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of RLI by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 411,787 shares of the insurance provider’s stock valued at $54,817,000 after buying an additional 11,255 shares in the last quarter. Norges Bank purchased a new stake in shares of RLI in the fourth quarter valued at approximately $52,592,000. Price T Rowe Associates Inc. MD lifted its position in shares of RLI by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 265,365 shares of the insurance provider’s stock valued at $39,400,000 after buying an additional 33,435 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. grew its stake in RLI by 9.5% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 231,388 shares of the insurance provider’s stock valued at $30,802,000 after acquiring an additional 20,100 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Price Performance

RLI opened at $151.36 on Monday. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 20.91 and a beta of 0.41. The company’s 50 day simple moving average is $143.83 and its two-hundred day simple moving average is $144.12. RLI Corp. has a 1-year low of $125.77 and a 1-year high of $152.34.

RLI (NYSE:RLI) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.37. The firm had revenue of $416.44 million for the quarter, compared to the consensus estimate of $561.60 million. RLI had a return on equity of 18.33% and a net margin of 20.78%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. On average, equities analysts anticipate that RLI Corp. will post 6.12 earnings per share for the current fiscal year.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, August 30th. RLI’s dividend payout ratio is currently 16.02%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Compass Point lowered their price objective on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group cut their price objective on RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, June 14th. JMP Securities restated a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $155.00 price target on shares of RLI in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.25.

About RLI

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.