B. Riley Wealth Advisors Inc. Sells 383 Shares of RLI Corp. (NYSE:RLI)

B. Riley Wealth Advisors Inc. trimmed its stake in shares of RLI Corp. (NYSE:RLI) by 20.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,525 shares of the insurance provider’s stock after selling 383 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in RLI were worth $203,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of RLI by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock valued at $147,097,000 after acquiring an additional 11,965 shares in the last quarter. Maren Capital LLC purchased a new stake in shares of RLI in the 4th quarter valued at about $67,149,000. Charles Schwab Investment Management Inc. raised its holdings in shares of RLI by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 411,787 shares of the insurance provider’s stock valued at $54,817,000 after acquiring an additional 11,255 shares in the last quarter. Northern Trust Corp raised its holdings in shares of RLI by 0.9% in the 3rd quarter. Northern Trust Corp now owns 395,547 shares of the insurance provider’s stock valued at $53,751,000 after acquiring an additional 3,562 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of RLI during the 4th quarter valued at about $52,592,000. 77.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RLI. JMP Securities reissued a “market perform” rating on shares of RLI in a report on Tuesday, April 23rd. Jefferies Financial Group decreased their price objective on RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 price objective on shares of RLI in a report on Friday, June 21st. Compass Point raised their price objective on RLI from $158.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada raised their price objective on RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, RLI presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.75.

RLI Price Performance

RLI opened at $140.77 on Friday. The stock’s 50 day simple moving average is $143.70 and its 200 day simple moving average is $141.68. RLI Corp. has a 1 year low of $125.77 and a 1 year high of $149.20. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 19.44 and a beta of 0.41.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.26. The business had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. RLI had a return on equity of 17.24% and a net margin of 20.96%. RLI’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period last year, the company earned $1.63 EPS. As a group, sell-side analysts anticipate that RLI Corp. will post 5.85 EPS for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were given a $0.29 dividend. This is a positive change from RLI’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Friday, May 31st. RLI’s dividend payout ratio (DPR) is currently 16.02%.

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.