RLI Corp. (NYSE:RLI) Shares Purchased by Pecaut & CO.

Pecaut & CO. raised its position in RLI Corp. (NYSE:RLI) by 99.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 3,983 shares of the insurance provider’s stock after purchasing an additional 1,991 shares during the period. Pecaut & CO.’s holdings in RLI were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of RLI. Golden State Wealth Management LLC boosted its holdings in RLI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 186 shares in the last quarter. Alpha DNA Investment Management LLC boosted its position 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 worth $432,000 after acquiring an additional 189 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in RLI by 56.8% during the first quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider’s stock worth $43,000 after buying an additional 192 shares during the period. Corient Private Wealth LLC raised its stake in RLI by 1.2% during the fourth quarter. Corient Private Wealth LLC now owns 17,265 shares of the insurance provider’s stock worth $2,846,000 after purchasing an additional 197 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in 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 acquiring an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Price Performance

Shares of RLI stock opened at $70.30 on Friday. RLI Corp. has a one year low of $69.16 and a one year high of $91.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35. The stock’s fifty day simple moving average is $73.30 and its 200 day simple moving average is $75.20. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 23.13 and a beta of 0.67.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $36.73 million for the quarter, compared to analyst estimates of $442.20 million. RLI had a net margin of 16.22% and a return on equity of 16.26%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. On average, analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Thursday, April 24th. Compass Point lowered shares of RLI from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods reduced 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, RLI currently has an average rating of “Hold” and an average price target 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.