RLI Corp. (NYSE:RLI) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC grew its position in RLI Corp. (NYSE:RLI) by 3.8% in the second quarter, HoldingsChannel reports. The fund owned 2,502 shares of the insurance provider’s stock after acquiring an additional 92 shares during the quarter. Inspire Investing LLC’s holdings in RLI were worth $352,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RLI. Maren Capital LLC acquired a new position in shares of RLI in the fourth quarter worth about $67,149,000. Norges Bank acquired a new position in shares of RLI during the 4th quarter worth about $52,592,000. Jacobs Levy Equity Management Inc. raised its position in shares of RLI by 237.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 207,883 shares of the insurance provider’s stock worth $30,864,000 after purchasing an additional 146,324 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of RLI by 585.0% during the 1st quarter. Russell Investments Group Ltd. now owns 41,649 shares of the insurance provider’s stock worth $6,184,000 after purchasing an additional 35,569 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in shares of RLI by 237.8% during the 4th quarter. Verition Fund Management LLC now owns 47,657 shares of the insurance provider’s stock worth $6,344,000 after purchasing an additional 33,550 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Trading Down 0.5 %

RLI stock opened at $152.62 on Monday. The company has a market cap of $6.98 billion, a price-to-earnings ratio of 21.08 and a beta of 0.41. RLI Corp. has a 12 month low of $125.77 and a 12 month high of $155.59. The firm has a 50-day moving average of $148.86 and a two-hundred day moving average of $145.31.

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

RLI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a $0.29 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.16 annualized dividend and a dividend yield of 0.76%. RLI’s dividend payout ratio (DPR) is 16.02%.

Analyst Ratings Changes

RLI has been the subject of several research analyst reports. JMP Securities restated a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $155.00 price target on shares of RLI in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods upped their price target on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Jefferies Financial Group reduced their price target 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. Finally, Compass Point cut their price objective on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, RLI has a consensus rating of “Moderate Buy” and a consensus price target 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.