RLI Corp. $RLI Shares Acquired by Jacobi Capital Management LLC

Jacobi Capital Management LLC lifted its holdings in shares of RLI Corp. (NYSE:RLI) by 100.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,788 shares of the insurance provider’s stock after acquiring an additional 1,894 shares during the period. Jacobi Capital Management LLC’s holdings in RLI were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RLI. Golden State Wealth Management LLC grew its stake 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 purchasing an additional 186 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in RLI by 100.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 198 shares during the last quarter. Versant Capital Management Inc raised its holdings in RLI by 100.0% during the first 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 raised its holdings in RLI by 88.5% during the first 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. Finally, Compass Wealth Management LLC raised its holdings in RLI by 100.0% during the first quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $78.60.

RLI Stock Performance

Shares of RLI stock opened at $66.92 on Friday. The stock has a market cap of $6.15 billion, a PE ratio of 19.17 and a beta of 0.65. The business has a fifty day simple moving average of $68.02 and a 200-day simple moving average of $72.69. 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 12 month low of $65.14 and a 12 month high of $91.14.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, July 21st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the business posted $1.72 earnings per share. The firm’s revenue was up 20.0% compared to the same quarter last year. On average, sell-side analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 29th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. RLI’s payout ratio is 18.34%.

Insider Activity

In related news, COO Jennifer L. Klobnak bought 3,000 shares of RLI stock in a transaction that occurred on Thursday, July 24th. The stock was purchased 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 approximately $6,807,817.50. This trade represents a 3.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.16% of the stock is owned by company insiders.

RLI Company 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.