Charles Schwab Investment Management Inc. Purchases 481,304 Shares of RLI Corp. (NYSE:RLI)

Charles Schwab Investment Management Inc. increased its position in shares of RLI Corp. (NYSE:RLI) by 102.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 953,056 shares of the insurance provider’s stock after acquiring an additional 481,304 shares during the period. Charles Schwab Investment Management Inc. owned about 1.04% of RLI worth $76,559,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC grew its position in shares of RLI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider’s stock valued at $30,000 after buying an additional 186 shares during the last quarter. Versant Capital Management Inc grew its position in shares of RLI by 100.0% in the 1st quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider’s stock valued at $33,000 after buying an additional 203 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of RLI by 88.5% in the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider’s stock valued at $38,000 after buying an additional 224 shares during the last quarter. Compass Wealth Management LLC grew its position in shares of RLI by 100.0% in the 1st quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider’s stock valued at $39,000 after buying an additional 240 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its position in shares of RLI by 56.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider’s stock valued at $43,000 after buying an additional 192 shares during the last quarter. Institutional investors own 77.89% of the company’s stock.

Insiders Place Their Bets

In other news, COO Jennifer L. Klobnak purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The shares were acquired at an average cost of $69.15 per share, with a total value of $207,450.00. Following the purchase, the chief operating officer owned 98,450 shares in the company, valued at $6,807,817.50. This represents a 3.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.16% of the company’s stock.

RLI Stock Up 1.9%

Shares of NYSE:RLI opened at $67.61 on Thursday. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 19.37 and a beta of 0.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35. The business’s 50-day moving average is $70.28 and its 200-day moving average is $73.84. RLI Corp. has a 1 year low of $65.14 and a 1 year high of $91.14.

RLI (NYSE:RLI) last announced its quarterly earnings data on Monday, July 21st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. RLI had a return on equity of 15.82% and a net margin of 17.81%. The company had revenue of $562.28 million for the quarter, compared to the consensus estimate of $445.55 million. During the same period in the previous year, the business earned $1.72 EPS. The firm’s revenue was up 20.0% compared to the same quarter last year. Equities research analysts predict that RLI Corp. will post 3.08 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on RLI. JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Thursday, April 24th. Compass Point lowered RLI from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded RLI from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, RLI currently has an average rating of “Hold” and a consensus 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.