Signal Advisors Wealth LLC Takes Position in RLI Corp. $RLI

Signal Advisors Wealth LLC acquired a new stake in RLI Corp. (NYSE:RLI) during the second quarter, Holdings Channel reports. The institutional investor acquired 22,260 shares of the insurance provider’s stock, valued at approximately $1,608,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Illinois Municipal Retirement Fund raised its holdings in shares of RLI by 100.0% in the first quarter. Illinois Municipal Retirement Fund now owns 19,526 shares of the insurance provider’s stock valued at $1,569,000 after purchasing an additional 9,763 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of RLI by 99.6% in the first quarter. New York State Teachers Retirement System now owns 112,616 shares of the insurance provider’s stock valued at $9,046,000 after purchasing an additional 56,208 shares during the last quarter. Empower Advisory Group LLC raised its holdings in shares of RLI by 105.5% in the first quarter. Empower Advisory Group LLC now owns 253,074 shares of the insurance provider’s stock valued at $20,329,000 after purchasing an additional 129,901 shares during the last quarter. Alaska Permanent Fund Corp raised its holdings in shares of RLI by 100.0% in the first quarter. Alaska Permanent Fund Corp now owns 41,476 shares of the insurance provider’s stock valued at $3,070,000 after purchasing an additional 20,738 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of RLI by 255.2% in the first quarter. Hsbc Holdings PLC now owns 11,321 shares of the insurance provider’s stock valued at $909,000 after purchasing an additional 8,134 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Price Performance

NYSE:RLI opened at $65.69 on Friday. RLI Corp. has a 1-year low of $64.74 and a 1-year high of $91.14. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $67.58 and a 200 day simple moving average of $72.42. The stock has a market capitalization of $6.03 billion, a PE ratio of 18.82 and a beta of 0.65.

RLI (NYSE:RLI) last released its earnings results on Monday, July 21st. The insurance provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. RLI had a net margin of 17.81% and a return on equity of 15.82%. The business had revenue of $562.28 million during the quarter, compared to analysts’ expectations of $445.55 million. During the same period last year, the business earned $1.72 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. On average, research analysts expect that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 29th. RLI’s payout ratio is 18.34%.

Insider Buying and Selling

In related news, COO Jennifer L. Klobnak acquired 3,000 shares of RLI stock in a transaction on Thursday, July 24th. The stock was purchased at an average cost of $69.15 per share, with a total value of $207,450.00. Following the completion of the transaction, the chief operating officer directly owned 98,450 shares in the company, valued at $6,807,817.50. This trade represents a 3.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $78.60.

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.