Quadrature Capital Ltd Purchases 918 Shares of RLI Corp. (NYSE:RLI)

Quadrature Capital Ltd increased its position in shares of RLI Corp. (NYSE:RLI) by 10.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,886 shares of the insurance provider’s stock after acquiring an additional 918 shares during the period. Quadrature Capital Ltd’s holdings in RLI were worth $1,468,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Commerce Bank grew its position in RLI by 1.7% during 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 during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of 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 last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of RLI by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 25,815 shares of the insurance provider’s stock valued at $3,832,000 after buying an additional 128 shares during the last quarter. Resonant Capital Advisors LLC grew its position in shares of RLI by 3.2% in the 1st quarter. Resonant Capital Advisors LLC now owns 4,436 shares of the insurance provider’s stock valued at $659,000 after buying an additional 136 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of RLI by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 17,840 shares of the insurance provider’s stock valued at $2,375,000 after buying an additional 180 shares during the last quarter. Institutional investors own 77.89% of the company’s stock.

RLI Price Performance

Shares of RLI stock traded up $4.17 on Friday, hitting $146.97. 192,867 shares of the company’s stock traded hands, compared to its average volume of 186,208. The company has a fifty day moving average of $141.87 and a two-hundred day moving average of $142.88. RLI Corp. has a one year low of $125.77 and a one year high of $149.20. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 20.30 and a beta of 0.41.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $561.60 million. During the same period in the prior year, the business earned $1.16 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts anticipate that RLI Corp. will post 5.96 earnings per share for the current year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were paid a dividend of $0.29 per share. This is an increase from RLI’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Friday, May 31st. RLI’s dividend payout ratio is 16.02%.

Analyst Ratings Changes

A number of research firms have commented on RLI. 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. Compass Point reduced their price target on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 target price on shares of RLI in a research report on Friday, June 21st. Royal Bank of Canada restated a “sector perform” rating and set a $155.00 target price on shares of RLI in a research report on Wednesday. Finally, JMP Securities restated a “market perform” rating on shares of RLI in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.50.

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.