RLI Corp. (NYSE:RLI) Shares Purchased by Donaldson Capital Management LLC

Donaldson Capital Management LLC raised its stake in RLI Corp. (NYSE:RLI) by 114.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 52,202 shares of the insurance provider’s stock after buying an additional 27,841 shares during the quarter. Donaldson Capital Management LLC’s holdings in RLI were worth $4,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in RLI in the 4th quarter valued at about $31,000. Apollon Wealth Management LLC raised its holdings in shares of RLI by 21.0% during the fourth quarter. Apollon Wealth Management LLC now owns 2,579 shares of the insurance provider’s stock valued at $425,000 after buying an additional 447 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of RLI during the fourth quarter valued at approximately $840,000. WCM Investment Management LLC acquired a new position in shares of RLI during the fourth quarter worth approximately $2,542,000. Finally, Savant Capital LLC grew its holdings in RLI by 24.6% in the 4th quarter. Savant Capital LLC now owns 8,990 shares of the insurance provider’s stock worth $1,482,000 after buying an additional 1,773 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Insider Activity

In other news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $74.89, for a total transaction of $214,484.96. Following the sale, the director now owns 23,312 shares in the company, valued at $1,745,835.68. The trade was a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.16% of the stock is currently owned by company insiders.

RLI Trading Down 0.7%

Shares of RLI stock opened at $73.33 on Wednesday. The business has a fifty day simple moving average of $75.30 and a 200-day simple moving average of $77.68. RLI Corp. has a fifty-two week low of $68.50 and a fifty-two week high of $91.15. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of 19.58 and a beta of 0.70. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The firm had revenue of $36.73 million for the quarter, compared to analyst estimates of $442.20 million. RLI had a net margin of 19.53% and a return on equity of 16.63%. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 earnings per share. On average, equities analysts forecast that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 30th. This is a positive change from RLI’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.87%. RLI’s payout ratio is 21.05%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Compass Point cut RLI from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 25th. JMP Securities restated a “market perform” rating on shares of RLI in a research note on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price objective on shares of RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, RLI has a consensus rating of “Hold” and a consensus price target of $78.60.

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.