RLI Corp. (NYSE:RLI) Shares Acquired by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC boosted its stake in RLI Corp. (NYSE:RLI) by 28.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,101 shares of the insurance provider’s stock after buying an additional 467 shares during the period. Alpha DNA Investment Management LLC’s holdings in RLI were worth $296,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RLI. Maren Capital LLC acquired a new stake in RLI in the fourth quarter worth $67,149,000. Norges Bank acquired a new stake in RLI in the fourth quarter worth $52,592,000. Jacobs Levy Equity Management Inc. increased its position in RLI by 237.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 207,883 shares of the insurance provider’s stock worth $30,864,000 after buying an additional 146,324 shares during the period. Russell Investments Group Ltd. increased its position in RLI by 585.0% in the first quarter. Russell Investments Group Ltd. now owns 41,649 shares of the insurance provider’s stock worth $6,184,000 after buying an additional 35,569 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in RLI by 2,611.1% in the second quarter. Cubist Systematic Strategies LLC now owns 34,838 shares of the insurance provider’s stock worth $4,901,000 after buying an additional 33,553 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Stock Down 0.4 %

Shares of RLI stock opened at $152.69 on Thursday. The stock has a 50-day simple moving average of $149.50 and a 200 day simple moving average of $145.47. RLI Corp. has a fifty-two week low of $125.77 and a fifty-two week high of $155.59. The stock has a market capitalization of $6.98 billion, a P/E ratio of 21.09 and a beta of 0.41.

RLI (NYSE:RLI) last announced its 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 return on equity of 18.33% and a net margin of 20.78%. The business had revenue of $416.44 million during the quarter, compared to analysts’ expectations of $561.60 million. During the same quarter last year, the business posted $1.16 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts anticipate that RLI Corp. will post 6.14 earnings per share for the current year.

RLI Announces Dividend

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

Analyst Ratings Changes

RLI has been the topic of several analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their price target on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $155.00 price target on shares of RLI in a report on Wednesday, July 24th. Compass Point lowered their price target on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Jefferies Financial Group lowered their price target on RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $166.25.

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.