Creative Planning Has $2.55 Million Position in RLI Corp. (NYSE:RLI)

Creative Planning raised its stake in RLI Corp. (NYSE:RLI) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,142 shares of the insurance provider’s stock after purchasing an additional 588 shares during the period. Creative Planning’s holdings in RLI were worth $2,552,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its stake in RLI by 22.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,097 shares of the insurance provider’s stock valued at $279,000 after buying an additional 378 shares during the last quarter. Stifel Financial Corp increased its stake in shares of RLI by 2.9% during the fourth quarter. Stifel Financial Corp now owns 52,131 shares of the insurance provider’s stock worth $6,940,000 after purchasing an additional 1,463 shares during the period. Royal London Asset Management Ltd. acquired a new stake in RLI during the 4th quarter worth approximately $2,079,000. Quadrature Capital Ltd bought a new stake in RLI in the 4th quarter valued at $1,194,000. Finally, Verition Fund Management LLC grew its holdings in RLI by 237.8% in the 4th quarter. Verition Fund Management LLC now owns 47,657 shares of the insurance provider’s stock valued at $6,344,000 after buying an additional 33,550 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Trading Up 1.8 %

Shares of RLI stock opened at $160.42 on Friday. The company has a 50 day moving average of $151.47 and a 200-day moving average of $145.94. The company has a market cap of $7.34 billion, a PE ratio of 22.16 and a beta of 0.41. RLI Corp. has a 1-year low of $125.77 and a 1-year high of $160.47.

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

RLI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.72%. RLI’s payout ratio is presently 16.02%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Compass Point reduced their target price on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods boosted their price objective on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Jefferies Financial Group decreased 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 report on Tuesday, July 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $155.00 price target on shares of RLI in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $166.25.

RLI 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.