Quadrature Capital Ltd Makes New Investment in RLI Corp. (NYSE:RLI)

Quadrature Capital Ltd purchased a new position in RLI Corp. (NYSE:RLI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,968 shares of the insurance provider’s stock, valued at approximately $1,194,000.

Several other large investors also recently modified their holdings of the business. Royal London Asset Management Ltd. bought a new stake in shares of RLI in the fourth quarter worth about $2,079,000. Creekmur Asset Management LLC bought a new stake in shares of RLI in the fourth quarter worth about $1,024,000. Argent Capital Management LLC increased its holdings in shares of RLI by 10.6% in the fourth quarter. Argent Capital Management LLC now owns 4,583 shares of the insurance provider’s stock worth $610,000 after acquiring an additional 440 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of RLI by 237.8% in the fourth quarter. Verition Fund Management LLC now owns 47,657 shares of the insurance provider’s stock worth $6,344,000 after acquiring an additional 33,550 shares in the last quarter. Finally, Maren Capital LLC bought a new stake in shares of RLI in the fourth quarter worth about $67,149,000. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Performance

Shares of NYSE RLI opened at $141.55 on Thursday. The stock has a 50 day moving average price of $143.22 and a 200 day moving average price of $141.44. RLI Corp. has a 52 week low of $125.77 and a 52 week high of $149.20. The stock has a market capitalization of $6.47 billion, a PE ratio of 19.55 and a beta of 0.41.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.63 by $0.26. RLI had a return on equity of 17.24% and a net margin of 20.96%. The firm had revenue of $444.80 million during the quarter, compared to analysts’ expectations of $460.05 million. During the same period in the prior year, the firm posted $1.63 earnings per share. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, research analysts forecast that RLI Corp. will post 5.85 EPS for the current year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, May 31st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 31st. This is a boost from RLI’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 0.82%. RLI’s dividend payout ratio is 16.02%.

Analysts Set New Price Targets

Several brokerages have issued reports on RLI. Jefferies Financial Group lowered their price target on RLI from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, June 14th. Keefe, Bruyette & Woods increased their price objective on RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday, April 23rd. Royal Bank of Canada increased their price objective on RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 24th. Finally, Compass Point increased their price objective on RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, RLI has a consensus rating of “Moderate Buy” and an average target price of $165.75.

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.