Whittier Trust Co. of Nevada Inc. Acquires 1,630 Shares of RLI Corp. (NYSE:RLI)

Whittier Trust Co. of Nevada Inc. lifted its stake in shares of RLI Corp. (NYSE:RLI) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 45,126 shares of the insurance provider’s stock after buying an additional 1,630 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in RLI were worth $6,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RLI. UMB Bank n.a. raised its position in RLI by 620.0% during 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 in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of RLI during the third quarter worth $32,000. American National Bank acquired a new position in shares of RLI in the second quarter valued at approximately $35,000. EverSource Wealth Advisors LLC increased its position in RLI by 45.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 77 shares during the period. Finally, Riverview Trust Co bought a new position in shares of RLI during the first quarter valued at $44,000. Institutional investors own 77.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RLI. Jefferies Financial Group boosted their price objective on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price objective on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Oppenheimer initiated coverage on shares of RLI in a research report on Wednesday, October 16th. They set a “market perform” rating for the company. Wolfe Research initiated coverage on shares of RLI in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price target on the stock. Finally, Compass Point decreased their price objective on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, RLI has a consensus rating of “Moderate Buy” and a consensus price target of $173.80.

RLI Stock Down 0.6 %

RLI traded down $0.99 during trading on Monday, hitting $162.00. The company’s stock had a trading volume of 167,158 shares, compared to its average volume of 152,416. The firm has a market capitalization of $7.41 billion, a P/E ratio of 22.31 and a beta of 0.41. RLI Corp. has a twelve month low of $125.77 and a twelve month high of $164.25. The stock’s fifty day moving average price is $153.60 and its 200-day moving average price is $146.74.

RLI (NYSE:RLI) last released its earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.37. RLI had a net margin of 20.78% and a return on equity of 18.33%. The company had revenue of $416.44 million for the quarter, compared to the consensus estimate of $561.60 million. During the same quarter in the previous year, the company earned $1.16 EPS. RLI’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts expect that RLI Corp. will post 6.14 EPS for the current fiscal year.

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were given a dividend of $0.29 per share. The ex-dividend date was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.72%. RLI’s dividend payout ratio (DPR) is presently 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.