Dimensional Fund Advisors LP Purchases 24,125 Shares of RLI Corp. (NYSE:RLI)

Dimensional Fund Advisors LP increased its holdings in shares of RLI Corp. (NYSE:RLI) by 2.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 931,454 shares of the insurance provider’s stock after purchasing an additional 24,125 shares during the period. Dimensional Fund Advisors LP owned 2.04% of RLI worth $131,045,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. American National Bank bought a new position in shares of RLI in the second quarter valued at about $35,000. Riverview Trust Co acquired a new position in shares of RLI in the first quarter valued at approximately $44,000. Intelligent Financial Strategies bought a new position in shares of RLI during the first quarter worth approximately $45,000. Benjamin F. Edwards & Company Inc. lifted its holdings in RLI by 468.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 253 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of RLI during the first quarter worth $73,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JMP Securities restated a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Jefferies Financial Group lowered 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. Keefe, Bruyette & Woods lifted their price objective on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $155.00 target price on shares of RLI in a report on Wednesday, July 24th. Finally, Compass Point decreased their price target on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, RLI has a consensus rating of “Moderate Buy” and an average price target of $166.25.

RLI Stock Performance

Shares of RLI stock opened at $152.62 on Monday. RLI Corp. has a fifty-two week low of $125.77 and a fifty-two week high of $155.59. The stock’s fifty day moving average price is $148.86 and its two-hundred day moving average price is $145.31. The company has a market cap of $6.98 billion, a PE ratio of 21.08 and a beta of 0.41.

RLI (NYSE:RLI) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.37. RLI had a return on equity of 18.33% and a net margin of 20.78%. The business had revenue of $416.44 million during the quarter, compared to the consensus estimate of $561.60 million. During the same period in the prior year, the company earned $1.16 EPS. RLI’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts predict that RLI Corp. will post 6.14 EPS for the current fiscal year.

RLI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, August 30th. RLI’s dividend payout ratio (DPR) is presently 16.02%.

RLI Company 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.