Brookstone Capital Management Decreases Stock Holdings in RLI Corp. (NYSE:RLI)

Brookstone Capital Management trimmed its position in RLI Corp. (NYSE:RLI) by 11.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,694 shares of the insurance provider’s stock after selling 212 shares during the quarter. Brookstone Capital Management’s holdings in RLI were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Commerce Bank increased its stake in shares of RLI by 1.7% in the fourth 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 increased its position in RLI by 0.5% during the 3rd 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 purchasing an additional 90 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in RLI by 3.1% during the 4th 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 period. Diversified Trust Co increased its position in RLI by 2.9% during the 3rd quarter. Diversified Trust Co now owns 5,261 shares of the insurance provider’s stock valued at $715,000 after purchasing an additional 150 shares during the period. Finally, Gladius Capital Management LP increased its position in RLI by 129.7% during the 3rd quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 153 shares during the period. 77.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 price objective on shares of RLI in a research report on Friday, June 21st. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Tuesday, April 23rd. Royal Bank of Canada boosted their price objective on shares of RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 24th. Compass Point boosted their target price on shares of RLI from $158.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, 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 report on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.75.

RLI Trading Up 0.4 %

Shares of RLI stock opened at $141.03 on Wednesday. The stock has a market cap of $6.45 billion, a PE ratio of 19.48 and a beta of 0.41. The company’s fifty day moving average price is $143.59 and its 200-day moving average price is $141.98. RLI Corp. has a 12 month low of $125.77 and a 12 month high of $149.20.

RLI (NYSE:RLI) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. The company had revenue of $444.80 million for the quarter, compared to analysts’ expectations of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. RLI’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 EPS. On average, sell-side analysts forecast that RLI Corp. will post 5.85 earnings per share for the current fiscal year.

RLI Increases Dividend

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

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.