RLI Corp. (NYSE:RLI) Position Reduced by Xponance Inc.

Xponance Inc. trimmed its holdings in RLI Corp. (NYSE:RLI) by 18.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,555 shares of the insurance provider’s stock after selling 1,033 shares during the quarter. Xponance Inc.’s holdings in RLI were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in RLI. EverSource Wealth Advisors LLC raised its stake in RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares during the period. Mercer Global Advisors Inc. ADV grew its position in RLI by 5.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock valued at $230,000 after purchasing an additional 89 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of RLI by 3.8% during the 2nd quarter. Inspire Investing LLC now owns 2,502 shares of the insurance provider’s stock valued at $352,000 after buying an additional 92 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in RLI by 0.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 25,815 shares of the insurance provider’s stock valued at $3,832,000 after purchasing an additional 128 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. increased its holdings in RLI by 5.1% in the second quarter. Argonautica Private Wealth Management Inc. now owns 2,762 shares of the insurance provider’s stock worth $389,000 after buying an additional 134 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Price Performance

Shares of NYSE RLI opened at $153.94 on Monday. The business has a fifty day moving average price of $150.01 and a two-hundred day moving average price of $145.55. The stock has a market capitalization of $7.04 billion, a PE ratio of 21.26 and a beta of 0.41. RLI Corp. has a fifty-two week low of $125.77 and a fifty-two week high of $155.59.

RLI (NYSE:RLI) last released its quarterly 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 net margin of 20.78% and a return on equity of 18.33%. The firm 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 for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts expect that RLI Corp. will post 6.14 EPS for the current year.

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders 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 yield of 0.75%. The ex-dividend date of this dividend was Friday, August 30th. RLI’s dividend payout ratio is currently 16.02%.

Analyst Upgrades and Downgrades

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

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.