Kayne Anderson Rudnick Investment Management LLC Has $343.11 Million Position in RLI Corp. (NYSE:RLI)

Kayne Anderson Rudnick Investment Management LLC grew its holdings in RLI Corp. (NYSE:RLI) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,438,728 shares of the insurance provider’s stock after purchasing an additional 4,913 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 5.34% of RLI worth $343,105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RLI. Commerce Bank lifted its stake in RLI by 1.7% in the 4th quarter. Commerce Bank now owns 4,419 shares of the insurance provider’s stock worth $588,000 after acquiring an additional 75 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of RLI by 5.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock worth $230,000 after purchasing an additional 89 shares during the period. Inspire Investing LLC grew its position in RLI by 3.8% during the second quarter. Inspire Investing LLC now owns 2,502 shares of the insurance provider’s stock valued at $352,000 after purchasing an additional 92 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in RLI by 3.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,259 shares of the insurance provider’s stock valued at $434,000 after buying an additional 99 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in RLI by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 25,815 shares of the insurance provider’s stock worth $3,832,000 after buying an additional 128 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

RLI Stock Down 0.5 %

RLI stock opened at $152.66 on Friday. The business’s 50-day simple moving average is $148.86 and its 200 day simple moving average is $145.35. The company has a market cap of $6.98 billion, a PE ratio of 21.09 and a beta of 0.41. RLI Corp. has a twelve month low of $125.77 and a twelve month high of $155.59.

RLI (NYSE:RLI) last issued its earnings results on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $561.60 million. During the same period in the prior year, the company posted $1.16 earnings per share. RLI’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that RLI Corp. will post 6.14 EPS for the current year.

RLI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, August 30th. 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.