RLI Corp. (NYSE:RLI) Shares Acquired by American National Bank & Trust

American National Bank & Trust lifted its stake in shares of RLI Corp. (NYSE:RLI) by 62.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 403 shares of the insurance provider’s stock after purchasing an additional 155 shares during the period. American National Bank & Trust’s holdings in RLI were worth $62,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. American National Bank acquired a new stake in RLI in the 2nd quarter worth about $35,000. EverSource Wealth Advisors LLC boosted its stake in shares of RLI by 45.6% in the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 77 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of RLI during the first quarter worth approximately $44,000. Intelligent Financial Strategies acquired a new position in RLI in the 1st quarter valued at $45,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in RLI by 468.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 253 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RLI. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $155.00 target price on shares of RLI in a report on Wednesday, July 24th. Compass Point decreased their price target on shares of RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group decreased their price target on shares of RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, June 14th. Keefe, Bruyette & Woods raised their price target 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. Finally, JMP Securities restated a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, RLI presently has a consensus rating of “Moderate Buy” and an average price target of $166.25.

RLI Stock Performance

Shares of RLI stock opened at $157.60 on Friday. RLI Corp. has a fifty-two week low of $125.77 and a fifty-two week high of $158.97. The company has a 50 day moving average price of $151.20 and a 200 day moving average price of $145.83. The stock has a market capitalization of $7.21 billion, a P/E ratio of 21.77 and a beta of 0.41.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.37. RLI had a net margin of 20.78% and a return on equity of 18.33%. The company had revenue of $416.44 million during the quarter, compared to the consensus estimate of $561.60 million. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts forecast that RLI Corp. will post 6.14 EPS for the current fiscal year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 annualized dividend and a dividend yield of 0.74%. RLI’s dividend payout ratio is presently 16.02%.

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.