Versor Investments LP Purchases New Holdings in RLI Corp. (NYSE:RLI)

Versor Investments LP purchased a new position in shares of RLI Corp. (NYSE:RLI) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 2,600 shares of the insurance provider’s stock, valued at approximately $366,000.

Several other institutional investors have also recently made changes to their positions in RLI. American National Bank bought a new position in shares of RLI in the second quarter valued at $35,000. Riverview Trust Co bought a new stake in RLI during the first quarter worth $44,000. Intelligent Financial Strategies acquired a new stake in RLI in the first quarter valued at $45,000. Benjamin F. Edwards & Company Inc. grew its position in shares of RLI by 468.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 253 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in shares of RLI during the 1st quarter worth about $73,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Trading Down 0.8 %

NYSE:RLI opened at $152.89 on Friday. The stock has a 50 day simple moving average of $146.00 and a 200 day simple moving average of $144.85. The stock has a market cap of $6.99 billion, a P/E ratio of 21.12 and a beta of 0.41. RLI Corp. has a 1-year low of $125.77 and a 1-year high of $155.59.

RLI (NYSE:RLI) last posted its earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.37. RLI had a return on equity of 18.33% and a net margin of 20.78%. The company had revenue of $416.44 million during the quarter, compared to the consensus estimate of $561.60 million. During the same quarter last year, the firm earned $1.16 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that RLI Corp. will post 6.14 EPS for the current year.

RLI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.16 annualized dividend and a dividend yield of 0.76%. RLI’s dividend payout ratio is presently 16.02%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $155.00 target price on shares of RLI in a research note on Wednesday, July 24th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Compass Point reduced their target price on RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods increased their price target on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group reduced their price objective on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, June 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $166.25.

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.