Resonant Capital Advisors LLC Has $572,000 Stake in RLI Corp. (NYSE:RLI)

Resonant Capital Advisors LLC decreased its holdings in shares of RLI Corp. (NYSE:RLIFree Report) by 9.0% in the 4th quarter, Holdings Channel reports. The fund owned 4,300 shares of the insurance provider’s stock after selling 427 shares during the period. Resonant Capital Advisors LLC’s holdings in RLI were worth $572,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of RLI. Morgan Stanley raised its stake in RLI by 524.0% during the fourth quarter. Morgan Stanley now owns 1,364,598 shares of the insurance provider’s stock worth $179,131,000 after acquiring an additional 1,145,896 shares in the last quarter. Norges Bank acquired a new position in RLI during the fourth quarter worth about $32,847,000. Point72 Asset Management L.P. raised its stake in RLI by 1,243.0% during the second quarter. Point72 Asset Management L.P. now owns 157,133 shares of the insurance provider’s stock worth $21,444,000 after acquiring an additional 145,433 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in RLI by 37,822.0% during the first quarter. Balyasny Asset Management L.P. now owns 132,727 shares of the insurance provider’s stock worth $17,641,000 after acquiring an additional 132,377 shares in the last quarter. Finally, Eaton Vance Management raised its stake in RLI by 24.4% during the first quarter. Eaton Vance Management now owns 594,479 shares of the insurance provider’s stock worth $65,767,000 after acquiring an additional 116,705 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analyst Ratings Changes

RLI has been the subject of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $148.00 target price on shares of RLI in a research note on Friday, January 26th. Keefe, Bruyette & Woods boosted their price target on RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th.

Read Our Latest Research Report on RLI

RLI Stock Performance

NYSE:RLI opened at $140.18 on Friday. The stock has a market cap of $6.41 billion, a P/E ratio of 21.17 and a beta of 0.37. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average is $144.42 and its 200-day moving average is $138.71. RLI Corp. has a 1-year low of $123.04 and a 1-year high of $149.65.

RLI (NYSE:RLIGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The insurance provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.10. The company had revenue of $433.52 million for the quarter, compared to analysts’ expectations of $423.12 million. RLI had a return on equity of 17.02% and a net margin of 20.15%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 earnings per share. Equities research analysts anticipate that RLI Corp. will post 5.56 earnings per share for the current year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Wednesday, February 28th. RLI’s payout ratio is presently 16.31%.

RLI Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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