Vista Finance LLC Has $359,000 Stock Position in RLI Corp. (NYSE:RLI)

Vista Finance LLC increased its holdings in shares of RLI Corp. (NYSE:RLI) by 114.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,474 shares of the insurance provider’s stock after purchasing an additional 2,383 shares during the period. RLI makes up about 0.3% of Vista Finance LLC’s holdings, making the stock its 28th biggest position. Vista Finance LLC’s holdings in RLI were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Everhart Financial Group Inc. lifted its holdings in RLI by 10.0% during the fourth quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider’s stock worth $269,000 after acquiring an additional 148 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of RLI by 47.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $82,000 after buying an additional 159 shares during the period. Alpha DNA Investment Management LLC grew its position in shares of RLI by 7.8% in the fourth quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider’s stock valued at $432,000 after purchasing an additional 189 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of RLI by 1.2% in the fourth quarter. Corient Private Wealth LLC now owns 17,265 shares of the insurance provider’s stock valued at $2,846,000 after purchasing an additional 197 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in shares of RLI by 100.0% in the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 203 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Wall Street Analyst Weigh In

RLI has been the subject of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of RLI in a research report on Thursday, April 24th. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods lowered their price target on RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Compass Point downgraded RLI from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $78.60.

RLI Stock Performance

RLI stock opened at $73.03 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $6.70 billion, a P/E ratio of 19.50 and a beta of 0.70. The stock’s 50 day moving average is $75.27 and its 200 day moving average is $77.42. RLI Corp. has a twelve month low of $68.50 and a twelve month high of $91.15.

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

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 30th will be given a $0.16 dividend. The ex-dividend date is Friday, May 30th. This is a boost from RLI’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 0.88%. RLI’s dividend payout ratio is 21.05%.

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.