Wealth Enhancement Advisory Services LLC Acquires Shares of 1,276 RLI Corp. (NYSE:RLI)

Wealth Enhancement Advisory Services LLC purchased a new stake in RLI Corp. (NYSE:RLI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,276 shares of the insurance provider’s stock, valued at approximately $210,000.

A number of other institutional investors have also made changes to their positions in RLI. SBI Securities Co. Ltd. bought a new position in shares of RLI in the fourth quarter valued at about $56,000. EverSource Wealth Advisors LLC raised its holdings in shares of RLI by 47.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $82,000 after buying an additional 159 shares during the last quarter. Quarry LP bought a new position in shares of RLI in the fourth quarter valued at about $108,000. Harvest Fund Management Co. Ltd bought a new position in shares of RLI in the fourth quarter valued at about $120,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of RLI in the fourth quarter valued at about $143,000. 77.89% of the stock is owned by institutional investors.

RLI Stock Performance

Shares of NYSE:RLI opened at $72.75 on Tuesday. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $6.68 billion, a P/E ratio of 19.43 and a beta of 0.70. The business has a 50-day moving average price of $75.27 and a two-hundred day moving average price of $77.14. RLI Corp. has a 1-year low of $68.50 and a 1-year high of $91.15.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $36.73 million during the quarter, compared to analysts’ expectations of $442.20 million. RLI had a return on equity of 16.63% and a net margin of 19.53%. RLI’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. Equities analysts predict that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 30th will be given a $0.16 dividend. The ex-dividend date is Friday, May 30th. This is a positive change from RLI’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 0.88%. RLI’s payout ratio is currently 21.05%.

Analyst Ratings Changes

A number of research analysts recently issued reports on RLI shares. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. JMP Securities reissued a “market perform” rating on shares of RLI in a report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price objective on RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, Compass Point cut RLI from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $78.60.

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.