Vanguard Group Inc. Has $607.69 Million Position in RLI Corp. (NYSE:RLI)

Vanguard Group Inc. lessened its stake in shares of RLI Corp. (NYSE:RLI) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,564,999 shares of the insurance provider’s stock after selling 45,597 shares during the period. Vanguard Group Inc. owned 10.00% of RLI worth $607,693,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Commerce Bank boosted its holdings in shares of RLI by 1.7% during the 4th quarter. Commerce Bank now owns 4,419 shares of the insurance provider’s stock worth $588,000 after buying an additional 75 shares during the period. Treasurer of the State of North Carolina boosted its holdings in RLI by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 17,660 shares of the insurance provider’s stock valued at $2,400,000 after acquiring an additional 90 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of RLI by 3.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 3,259 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 99 shares during the last quarter. Brookstone Capital Management increased its stake in shares of RLI by 6.4% in the fourth quarter. Brookstone Capital Management now owns 1,906 shares of the insurance provider’s stock worth $254,000 after purchasing an additional 114 shares during the period. Finally, Diversified Trust Co lifted its position in shares of RLI by 2.9% during the 3rd quarter. Diversified Trust Co now owns 5,261 shares of the insurance provider’s stock worth $715,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Price Performance

Shares of RLI stock opened at $141.30 on Monday. RLI Corp. has a one year low of $125.77 and a one year high of $149.20. The stock has a fifty day moving average price of $143.39 and a 200 day moving average price of $141.56. The stock has a market cap of $6.46 billion, a P/E ratio of 19.52 and a beta of 0.41.

RLI (NYSE:RLI) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. The company had revenue of $444.80 million during the quarter, compared to the consensus estimate of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period last year, the firm earned $1.63 EPS. Equities research analysts anticipate that RLI Corp. will post 5.85 EPS for the current year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.82%. This is an increase from RLI’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, May 31st. RLI’s payout ratio is presently 16.02%.

Analyst Ratings Changes

A number of analysts have issued reports on RLI shares. Royal Bank of Canada raised their target price on RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a report on Wednesday, April 24th. Jefferies Financial Group dropped their target price on shares of RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. JMP Securities reiterated a “market perform” rating on shares of RLI in a research note on Tuesday, April 23rd. Compass Point raised their price target on shares of RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price objective on shares of RLI in a research report on Friday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, RLI currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.75.

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.