RLI Corp. $RLI Shares Bought by UMB Bank n.a.

UMB Bank n.a. increased its position in RLI Corp. (NYSE:RLI) by 23.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,907 shares of the insurance provider’s stock after acquiring an additional 358 shares during the period. UMB Bank n.a.’s holdings in RLI were worth $138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RLI. Golden State Wealth Management LLC increased its position in RLI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider’s stock worth $30,000 after buying an additional 186 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of RLI by 100.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 198 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of RLI by 100.0% during the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 203 shares during the last quarter. Farther Finance Advisors LLC increased 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 in the last quarter. Finally, Compass Wealth Management LLC increased its position in RLI by 100.0% during the 1st quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 240 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Stock Performance

NYSE RLI opened at $64.80 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35. RLI Corp. has a 1-year low of $64.34 and a 1-year high of $91.14. The firm has a market capitalization of $5.95 billion, a P/E ratio of 18.57 and a beta of 0.65. The business’s 50-day simple moving average is $67.13 and its 200-day simple moving average is $72.12.

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

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, August 29th. RLI’s dividend payout ratio is 18.34%.

Insider Transactions at RLI

In related news, COO Jennifer L. Klobnak acquired 3,000 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were bought at an average cost of $69.15 per share, with a total value of $207,450.00. Following the completion of the transaction, the chief operating officer directly owned 98,450 shares of the company’s stock, valued at $6,807,817.50. This trade represents a 3.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average 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.