RLI Corp. (NYSE:RLI) Shares Acquired by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd lifted its position in shares of RLI Corp. (NYSE:RLI) by 21.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,605 shares of the insurance provider’s stock after buying an additional 1,895 shares during the period. Ausbil Investment Management Ltd’s holdings in RLI were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Creekmur Asset Management LLC purchased a new position in shares of RLI during the 4th quarter worth approximately $1,024,000. Principal Financial Group Inc. boosted its position in RLI by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 168,210 shares of the insurance provider’s stock valued at $22,392,000 after buying an additional 5,113 shares during the period. Maren Capital LLC purchased a new position in RLI in the 4th quarter valued at approximately $67,149,000. Royal London Asset Management Ltd. purchased a new position in RLI in the 4th quarter valued at approximately $2,079,000. Finally, Nepsis Inc. raised its stake in RLI by 29.2% during the 1st quarter. Nepsis Inc. now owns 91,455 shares of the insurance provider’s stock worth $13,578,000 after acquiring an additional 20,663 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analyst Upgrades and Downgrades

RLI has been the topic of several research analyst reports. Compass Point lifted their price target on shares of RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. JMP Securities reiterated a “market perform” rating on shares of RLI in a research note on Tuesday, April 23rd. 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 note on Friday, June 14th. Royal Bank of Canada lifted their price objective on shares of RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price objective on shares of RLI in a research note on Friday, June 21st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.75.

RLI Stock Performance

NYSE RLI traded down $0.35 during trading on Friday, reaching $139.81. The company’s stock had a trading volume of 1,925 shares, compared to its average volume of 159,557. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 19.36 and a beta of 0.41. RLI Corp. has a twelve month low of $125.77 and a twelve month high of $149.20. The business’s fifty day moving average price is $143.69 and its 200-day moving average price is $141.64.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) 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 business had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. During the same period in the previous year, the business posted $1.63 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. As a group, sell-side analysts forecast that RLI Corp. will post 5.85 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were issued a dividend of $0.29 per share. The ex-dividend date was Friday, May 31st. This represents a $1.16 dividend on an annualized basis and a yield of 0.83%. This is an increase from RLI’s previous quarterly dividend of $0.27. RLI’s payout ratio is currently 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.