Mercer Global Advisors Inc. ADV Has $230,000 Holdings in RLI Corp. (NYSE:RLI)

Mercer Global Advisors Inc. ADV boosted its stake in RLI Corp. (NYSE:RLI) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,633 shares of the insurance provider’s stock after purchasing an additional 89 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in RLI were worth $230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. American National Bank acquired a new stake in RLI in the second quarter valued at $35,000. Riverview Trust Co acquired a new stake in RLI in the first quarter valued at $44,000. Intelligent Financial Strategies acquired a new stake in RLI in the first quarter valued at $45,000. Benjamin F. Edwards & Company Inc. boosted its position in RLI by 468.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 253 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in RLI during the first quarter valued at $73,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Price Performance

RLI opened at $155.02 on Tuesday. The firm has a market capitalization of $7.09 billion, a PE ratio of 21.41 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. The company’s 50-day moving average is $150.32 and its 200 day moving average is $145.60.

RLI (NYSE:RLI) last posted its quarterly earnings data 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 during 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%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. As a group, analysts expect that RLI Corp. will post 6.14 EPS for the current year.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders 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 yield of 0.75%. RLI’s dividend payout ratio (DPR) is 16.02%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their price target on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $155.00 price objective on shares of RLI in a research report on Wednesday, July 24th. Finally, 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 research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.