Inspire Investing LLC Acquires 92 Shares of RLI Corp. (NYSE:RLI)

Inspire Investing LLC increased its holdings in RLI Corp. (NYSE:RLI) by 3.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,502 shares of the insurance provider’s stock after buying an additional 92 shares during the period. Inspire Investing LLC’s holdings in RLI were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. American National Bank bought a new position in RLI in the second quarter worth approximately $35,000. Riverview Trust Co acquired a new position in shares of RLI during the first quarter worth $44,000. Intelligent Financial Strategies acquired a new position in shares of RLI during the first quarter worth $45,000. Benjamin F. Edwards & Company Inc. increased its position in shares of RLI by 468.5% during the first 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 in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of RLI during the first quarter worth $73,000. Institutional investors own 77.89% of the company’s stock.

RLI Stock Performance

NYSE:RLI opened at $152.62 on Monday. RLI Corp. has a one year low of $125.77 and a one year high of $155.59. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 21.08 and a beta of 0.41. The firm’s fifty day moving average is $148.86 and its two-hundred day moving average is $145.31.

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

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, August 30th. RLI’s payout ratio is 16.02%.

Analyst Ratings Changes

RLI has been the topic of a number of recent analyst reports. Jefferies Financial Group reduced their price target on 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 reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $155.00 price target on shares of RLI in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods upped their price target on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Compass Point dropped their price objective on shares of RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.25.

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.