Van Hulzen Asset Management LLC Raises Stake in RLI Corp. (NYSE:RLI)

Van Hulzen Asset Management LLC boosted its position in shares of RLI Corp. (NYSE:RLI) by 6.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,022 shares of the insurance provider’s stock after acquiring an additional 505 shares during the period. Van Hulzen Asset Management LLC’s holdings in RLI were worth $1,129,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RLI. Commerce Bank boosted its holdings in RLI by 1.7% in the fourth quarter. Commerce Bank now owns 4,419 shares of the insurance provider’s stock valued at $588,000 after purchasing an additional 75 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of RLI by 3.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,259 shares of the insurance provider’s stock worth $434,000 after buying an additional 99 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings 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 in the last quarter. Argonautica Private Wealth Management Inc. grew its position in shares of RLI by 5.1% in the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 2,762 shares of the insurance provider’s stock valued at $389,000 after buying an additional 134 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in RLI by 3.2% during the 1st quarter. Resonant Capital Advisors LLC now owns 4,436 shares of the insurance provider’s stock worth $659,000 after acquiring an additional 136 shares in the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RLI shares. Jefferies Financial Group decreased their price objective on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Compass Point decreased their target price on RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods lifted 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $155.00 price objective on shares of RLI in a research note on Wednesday, July 24th. Finally, JMP Securities restated a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, RLI has a consensus rating of “Moderate Buy” and a consensus price target of $166.25.

RLI Stock Down 1.0 %

NYSE RLI opened at $152.42 on Wednesday. The firm has a market cap of $6.97 billion, a P/E ratio of 21.05 and a beta of 0.41. RLI Corp. has a 52-week low of $125.77 and a 52-week high of $155.59. The business’s 50-day moving average price is $146.71 and its 200 day moving average price is $145.05.

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

RLI Announces Dividend

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

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.