1,733 Shares in RLI Corp. (NYSE:RLI) Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. bought a new stake in RLI Corp. (NYSE:RLI) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,733 shares of the insurance provider’s stock, valued at approximately $244,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RLI. Maren Capital LLC purchased a new position in RLI during the fourth quarter worth about $67,149,000. Norges Bank purchased a new stake in shares of RLI in the 4th quarter valued at approximately $52,592,000. Jacobs Levy Equity Management Inc. increased its stake in 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 buying an additional 146,324 shares during the period. Los Angeles Capital Management LLC increased its stake in RLI by 65.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 203,046 shares of the insurance provider’s stock worth $27,029,000 after buying an additional 80,451 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in 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 buying an additional 35,569 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Compass Point reduced their price target on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group cut 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. Keefe, Bruyette & Woods upped their price objective 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $155.00 price objective on shares of RLI in a research report on Wednesday, July 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 data from MarketBeat.com, RLI presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.25.

RLI Stock Performance

NYSE RLI opened at $152.68 on Thursday. RLI Corp. has a one year low of $125.77 and a one year high of $153.54. The company’s 50 day moving average price is $144.45 and its 200 day moving average price is $144.35. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 21.09 and a beta of 0.41.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.35 by $0.37. The firm had revenue of $416.44 million for the quarter, compared to analyst estimates of $561.60 million. RLI had a net margin of 20.78% and a return on equity of 18.33%. RLI’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 earnings per share. Sell-side analysts forecast that RLI Corp. will post 6.12 EPS for the current fiscal year.

RLI Dividend Announcement

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