RLI Corp. (NYSE:RLI) Shares Acquired by Creative Planning

Creative Planning lifted its position in RLI Corp. (NYSE:RLI) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 18,586 shares of the insurance provider’s stock after acquiring an additional 444 shares during the period. Creative Planning’s holdings in RLI were worth $2,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of RLI by 620.0% in the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 155 shares during the period. EverSource Wealth Advisors LLC raised its position in RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after buying an additional 77 shares during the last quarter. American National Bank acquired a new stake in RLI during the 2nd quarter valued at approximately $35,000. American National Bank & Trust boosted its holdings in shares of RLI by 62.5% in the 3rd quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock valued at $62,000 after acquiring an additional 155 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of RLI in the first quarter worth $73,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Stock Down 2.5 %

RLI stock opened at $155.30 on Friday. The stock has a market capitalization of $7.10 billion, a P/E ratio of 17.07 and a beta of 0.41. RLI Corp. has a 52 week low of $125.77 and a 52 week high of $164.25. The firm has a 50-day simple moving average of $154.75 and a 200-day simple moving average of $147.21. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 EPS for the quarter, topping the consensus estimate of $0.98 by $0.33. RLI had a return on equity of 19.03% and a net margin of 23.77%. The business had revenue of $470.00 million for the quarter, compared to analyst estimates of $491.54 million. During the same quarter in the previous year, the firm earned $0.61 EPS. The company’s quarterly revenue was up 41.7% compared to the same quarter last year. Equities analysts forecast that RLI Corp. will post 6.07 earnings per share for the current fiscal year.

RLI Dividend Announcement

The business also recently declared 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. The ex-dividend date was Friday, August 30th. This represents a $1.16 annualized dividend and a dividend yield of 0.75%. RLI’s dividend payout ratio is presently 12.75%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of RLI from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods upped their target price on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their price target on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research report on Wednesday. JMP Securities restated a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Finally, Wolfe Research assumed coverage on shares of RLI in a report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, RLI presently has an average rating of “Moderate Buy” and an average target price of $177.40.

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.