Reyes Financial Architecture Inc. Buys 562 Shares of RLI Corp. (NYSE:RLI)

Reyes Financial Architecture Inc. increased its position in RLI Corp. (NYSE:RLI) by 149.5% in the 1st quarter, HoldingsChannel reports. The fund owned 938 shares of the insurance provider’s stock after buying an additional 562 shares during the quarter. Reyes Financial Architecture Inc.’s holdings in RLI were worth $75,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased 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 worth $82,000 after purchasing an additional 159 shares in the last quarter. Golden State Wealth Management LLC increased its stake in RLI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider’s stock worth $30,000 after buying an additional 186 shares in the last quarter. Alpha DNA Investment Management LLC raised its holdings in RLI by 7.8% during the fourth quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider’s stock valued at $432,000 after acquiring an additional 189 shares during the period. Corient Private Wealth LLC lifted 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 acquiring an additional 197 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake 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 worth $33,000 after acquiring an additional 203 shares during the period. Institutional investors own 77.89% of the company’s stock.

RLI Stock Performance

NYSE RLI opened at $70.13 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35. RLI Corp. has a 1-year low of $69.16 and a 1-year high of $91.15. The business has a 50 day simple moving average of $73.62 and a two-hundred day simple moving average of $75.49. The stock has a market capitalization of $6.44 billion, a PE ratio of 23.07 and a beta of 0.67.

RLI (NYSE:RLI) last announced 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 analysts’ expectations of $442.20 million. RLI had a net margin of 16.22% and a return on equity of 16.26%. RLI’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 earnings per share. On average, research analysts predict that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 30th. This is an increase from RLI’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.91%. RLI’s payout ratio is 21.05%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RLI. Compass Point downgraded RLI from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 25th. Keefe, Bruyette & Woods cut 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. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $78.60.

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.