Brookstone Capital Management Has $280,000 Stake in RLI Corp. $RLI

Brookstone Capital Management boosted its position in shares of RLI Corp. (NYSE:RLI) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,876 shares of the insurance provider’s stock after acquiring an additional 207 shares during the period. Brookstone Capital Management’s holdings in RLI were worth $280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in RLI by 95.2% during the 1st quarter. Vanguard Group Inc. now owns 8,996,643 shares of the insurance provider’s stock worth $722,700,000 after acquiring an additional 4,388,400 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in RLI by 117.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,226,797 shares of the insurance provider’s stock worth $419,869,000 after acquiring an additional 2,817,616 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of RLI by 106.6% during the first quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider’s stock valued at $220,967,000 after buying an additional 1,419,212 shares during the last quarter. Markel Group Inc. raised its position in shares of RLI by 100.0% during the first quarter. Markel Group Inc. now owns 2,394,544 shares of the insurance provider’s stock valued at $192,354,000 after buying an additional 1,197,272 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of RLI by 97.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider’s stock valued at $149,569,000 after buying an additional 920,799 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RLI. Truist Financial set a $62.00 price objective on shares of RLI and gave the company a “hold” rating in a research report on Friday, October 3rd. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $72.80.

RLI Stock Performance

NYSE RLI opened at $59.33 on Wednesday. The stock has a market cap of $5.45 billion, a P/E ratio of 15.57 and a beta of 0.60. The company’s 50-day simple moving average is $64.86 and its 200 day simple moving average is $69.71. RLI Corp. has a twelve month low of $59.01 and a twelve month high of $91.14. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.05.

RLI (NYSE:RLI) last posted its earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.21. The business had revenue of $510.22 million for the quarter, compared to analysts’ expectations of $444.75 million. RLI had a net margin of 19.02% and a return on equity of 16.51%. During the same quarter in the previous year, the firm posted $1.31 earnings per share. As a group, research analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.1%. RLI’s payout ratio is presently 16.80%.

About RLI

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.