UMB Bank n.a. Grows Stock Holdings in RLI Corp. (NYSE:RLI)

UMB Bank n.a. increased its position in RLI Corp. (NYSE:RLI) by 620.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180 shares of the insurance provider’s stock after purchasing an additional 155 shares during the quarter. UMB Bank n.a.’s holdings in RLI were worth $28,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of RLI by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 931,454 shares of the insurance provider’s stock worth $131,045,000 after buying an additional 24,125 shares during the period. Maren Capital LLC grew its holdings in RLI by 21.3% during the 1st quarter. Maren Capital LLC now owns 612,081 shares of the insurance provider’s stock worth $90,876,000 after acquiring an additional 107,655 shares in the last quarter. Van Berkom & Associates Inc. increased its position in RLI by 1.5% during the 2nd quarter. Van Berkom & Associates Inc. now owns 556,764 shares of the insurance provider’s stock valued at $78,331,000 after purchasing an additional 8,454 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of RLI by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 428,331 shares of the insurance provider’s stock valued at $60,262,000 after purchasing an additional 1,979 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of RLI by 14.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 265,365 shares of the insurance provider’s stock worth $39,400,000 after purchasing an additional 33,435 shares during the period. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Stock Up 0.3 %

Shares of RLI stock opened at $160.23 on Wednesday. The firm has a market capitalization of $7.33 billion, a P/E ratio of 21.86 and a beta of 0.41. RLI Corp. has a 52 week low of $125.77 and a 52 week high of $162.72. The company has a 50 day moving average price of $152.61 and a 200 day moving average price of $146.40.

RLI (NYSE:RLI) last released its earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) 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 firm had revenue of $416.44 million for the quarter, compared to the consensus estimate of $561.60 million. During the same period in the prior year, the firm earned $1.16 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, research analysts anticipate that RLI Corp. will post 6.14 earnings per share for the current fiscal 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 issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Friday, August 30th. RLI’s dividend payout ratio (DPR) is 15.83%.

Analyst Ratings Changes

Several equities analysts recently issued reports on RLI shares. Compass Point cut their price objective on shares of RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Wolfe Research started coverage on RLI in a research report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price objective on the stock. Keefe, Bruyette & Woods boosted their target price on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $162.00 price target on shares of RLI in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, RLI presently has a consensus rating of “Moderate Buy” and an average target price of $173.80.

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.