XTX Topco Ltd Purchases Shares of 3,625 RLI Corp. (NYSE:RLI)

XTX Topco Ltd acquired a new position in shares of RLI Corp. (NYSE:RLI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,625 shares of the insurance provider’s stock, valued at approximately $510,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RLI. Hsbc Holdings PLC raised its position in RLI by 117.7% in the 2nd quarter. Hsbc Holdings PLC now owns 8,571 shares of the insurance provider’s stock valued at $1,206,000 after buying an additional 4,634 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of RLI by 10.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,148 shares of the insurance provider’s stock valued at $724,000 after purchasing an additional 473 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of RLI by 5.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock valued at $230,000 after purchasing an additional 89 shares during the last quarter. Edgestream Partners L.P. lifted its position in shares of RLI by 15.5% in the second quarter. Edgestream Partners L.P. now owns 38,584 shares of the insurance provider’s stock worth $5,428,000 after purchasing an additional 5,167 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in RLI during the second quarter worth $3,053,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Compass Point lowered their price target on shares of RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Jefferies Financial Group decreased their price target on RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Keefe, Bruyette & Woods upped their price objective on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $155.00 target price on shares of RLI in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.25.

RLI Trading Down 0.5 %

RLI opened at $153.33 on Wednesday. The company has a market cap of $7.01 billion, a P/E ratio of 21.18 and a beta of 0.41. The company’s 50 day moving average is $149.31 and its 200-day moving average is $145.41. RLI Corp. has a 1-year low of $125.77 and a 1-year high of $155.59.

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

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 0.76%. RLI’s payout ratio is 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.