RLI Corp. (NYSE:RLI) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. increased its stake in shares of RLI Corp. (NYSE:RLI) by 1,077.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 789 shares of the insurance provider’s stock after acquiring an additional 722 shares during the quarter. Blue Trust Inc.’s holdings in RLI were worth $63,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in RLI during the 4th quarter worth $56,000. Versant Capital Management Inc grew its position in RLI by 100.0% during the 1st quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 203 shares during the last quarter. Farther Finance Advisors LLC grew its position in RLI by 88.5% during the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 224 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in RLI by 47.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock worth $82,000 after purchasing an additional 159 shares during the last quarter. Finally, Quarry LP purchased a new position in RLI during the 4th quarter worth $108,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RLI has been the topic of several research reports. Compass Point downgraded shares of RLI from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 25th. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a research report on Tuesday, May 6th. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of RLI from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $78.60.

RLI Stock Up 0.8%

Shares of NYSE:RLI opened at $71.84 on Friday. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 23.63 and a beta of 0.70. The firm’s 50-day simple moving average is $74.50 and its 200-day simple moving average is $76.49. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06. RLI Corp. has a fifty-two week low of $68.50 and a fifty-two week high of $91.15.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $36.73 million for the quarter, compared to the consensus estimate of $442.20 million. RLI had a net margin of 16.22% and a return on equity of 16.26%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. As a group, equities research analysts predict that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.89%. This is an increase from RLI’s previous quarterly dividend of $0.15. RLI’s payout ratio is currently 21.05%.

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.