RLI Corp. (NYSE:RLI) Shares Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP grew its position in RLI Corp. (NYSE:RLI) by 1,219.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,340 shares of the insurance provider’s stock after purchasing an additional 20,647 shares during the period. GSA Capital Partners LLP’s holdings in RLI were worth $1,795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Markel Group Inc. lifted its position in RLI by 100.0% during the 1st quarter. Markel Group Inc. now owns 2,394,544 shares of the insurance provider’s stock worth $192,354,000 after acquiring an additional 1,197,272 shares in the last quarter. Neuberger Berman Group LLC lifted its position in RLI by 1.5% during the 4th quarter. Neuberger Berman Group LLC now owns 1,331,526 shares of the insurance provider’s stock worth $219,475,000 after acquiring an additional 19,695 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in RLI by 104.3% during the 1st quarter. Van Berkom & Associates Inc. now owns 1,075,321 shares of the insurance provider’s stock worth $86,381,000 after acquiring an additional 549,042 shares in the last quarter. Geode Capital Management LLC lifted its position in RLI by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 1,024,518 shares of the insurance provider’s stock worth $168,907,000 after acquiring an additional 116,088 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in RLI by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 941,185 shares of the insurance provider’s stock worth $155,136,000 after acquiring an additional 7,609 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Price Performance

RLI stock opened at $66.55 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06. RLI Corp. has a 52-week low of $66.41 and a 52-week high of $91.14. The stock’s 50 day moving average is $72.43 and its two-hundred day moving average is $74.61. The company has a market capitalization of $6.11 billion, a PE ratio of 19.07 and a beta of 0.67.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, July 21st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. The business had revenue of $562.28 million for the quarter, compared to analyst estimates of $445.55 million. RLI had a return on equity of 15.82% and a net margin of 17.81%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 EPS. Analysts predict that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were given a dividend of $0.16 per share. This is a positive change from RLI’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, May 30th. RLI’s dividend payout ratio is currently 18.34%.

Analysts Set New Price Targets

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

Insider Activity

In other news, COO Jennifer L. Klobnak purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The shares were acquired at an average cost of $69.15 per share, with a total value of $207,450.00. Following the transaction, the chief operating officer owned 98,450 shares in the company, valued at approximately $6,807,817.50. The trade was a 3.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.16% of the company’s stock.

About RLI

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.