Oak Thistle LLC Takes $468,000 Position in RLI Corp. (NYSE:RLI)

Oak Thistle LLC acquired a new position in RLI Corp. (NYSE:RLI) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,149 shares of the insurance provider’s stock, valued at approximately $468,000.

Several other institutional investors also recently modified their holdings of RLI. Blue Trust Inc. purchased a new position in RLI in the 4th quarter worth approximately $25,000. Gladius Capital Management LP lifted its holdings in shares of RLI by 129.7% during the 3rd quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 153 shares during the last quarter. GAMMA Investing LLC purchased a new position in RLI in the fourth quarter worth $41,000. Riverview Trust Co bought a new position in RLI in the first quarter valued at $44,000. Finally, TFO Wealth Partners LLC raised its position in RLI by 31,950.0% during the fourth quarter. TFO Wealth Partners LLC now owns 641 shares of the insurance provider’s stock valued at $85,000 after purchasing an additional 639 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Down 0.2 %

NYSE:RLI opened at $140.45 on Tuesday. The firm has a market capitalization of $6.42 billion, a P/E ratio of 19.40 and a beta of 0.41. The company has a fifty day moving average of $143.69 and a 200 day moving average of $141.87. RLI Corp. has a 52 week low of $125.77 and a 52 week high of $149.20.

RLI (NYSE:RLI) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.63 by $0.26. The firm 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 company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 earnings per share. As a group, analysts anticipate that RLI Corp. will post 5.85 EPS for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were given a $0.29 dividend. This is a positive change from RLI’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, May 31st. RLI’s dividend payout ratio (DPR) is currently 16.02%.

Wall Street Analyst Weigh In

RLI has been the subject of a number of research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price objective on shares of RLI in a report on Friday, June 21st. Royal Bank of Canada upped their target price on RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 24th. Compass Point increased their price target on shares of RLI from $158.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. JMP Securities restated a “market perform” rating on shares of RLI in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group reduced their target price on shares of RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RLI currently has an average rating of “Moderate Buy” and an average price target 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.