Xponance Inc. Decreases Position in RLI Corp. (NYSE:RLI)

Xponance Inc. cut its position in RLI Corp. (NYSE:RLI) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,702 shares of the insurance provider’s stock after selling 115 shares during the period. Xponance Inc.’s holdings in RLI were worth $759,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. purchased a new position in shares of RLI during the fourth quarter valued at approximately $25,000. Gladius Capital Management LP raised its holdings in shares of RLI by 129.7% during the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 153 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of RLI during the third quarter valued at approximately $60,000. Duncker Streett & Co. Inc. purchased a new stake in RLI during the fourth quarter valued at approximately $127,000. Finally, Harbor Capital Advisors Inc. increased its holdings in RLI by 12.6% during the third quarter. Harbor Capital Advisors Inc. now owns 1,072 shares of the insurance provider’s stock valued at $146,000 after buying an additional 120 shares during the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

RLI Stock Performance

RLI opened at $146.51 on Friday. The firm has a market cap of $6.70 billion, a P/E ratio of 20.24 and a beta of 0.37. RLI Corp. has a 1-year low of $123.04 and a 1-year high of $149.20. The company has a 50 day simple moving average of $144.72 and a two-hundred day simple moving average of $138.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.38.

RLI (NYSE:RLI) last issued its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. RLI had a net margin of 20.96% and a return on equity of 17.24%. The firm had revenue of $444.80 million during the quarter, compared to analyst estimates of $460.05 million. During the same quarter in the prior year, the business earned $1.63 earnings per share. RLI’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities analysts forecast that RLI Corp. will post 5.64 earnings per share for the current fiscal year.

RLI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.74%. RLI’s dividend payout ratio is 14.92%.

Analysts Set New Price Targets

A number of brokerages have commented on RLI. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Tuesday. Compass Point upped their target price on shares of RLI from $158.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada upped their target price on shares of RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods upped their target price on shares of RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $163.25.

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.