Quadrature Capital Ltd Makes New Investment in RLI Corp. (NYSE:RLI)

Quadrature Capital Ltd acquired a new position in shares of RLI Corp. (NYSE:RLIFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,968 shares of the insurance provider’s stock, valued at approximately $1,194,000.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of RLI by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock valued at $147,097,000 after purchasing an additional 11,965 shares during the last quarter. Maren Capital LLC bought a new position in shares of RLI in the 4th quarter valued at $67,149,000. Charles Schwab Investment Management Inc. increased its stake in shares of RLI by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 411,787 shares of the insurance provider’s stock valued at $54,817,000 after purchasing an additional 11,255 shares during the last quarter. Northern Trust Corp increased its stake in shares of RLI by 0.9% in the 3rd quarter. Northern Trust Corp now owns 395,547 shares of the insurance provider’s stock valued at $53,751,000 after purchasing an additional 3,562 shares during the last quarter. Finally, Norges Bank bought a new position in shares of RLI in the 4th quarter valued at $52,592,000. Institutional investors own 77.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RLI shares. Keefe, Bruyette & Woods lifted their price target on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. JMP Securities reissued a “market perform” rating on shares of RLI in a report on Tuesday, April 23rd. Compass Point raised their price objective on RLI from $158.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada raised their price objective on RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $163.25.

View Our Latest Stock Analysis on RLI

RLI Stock Down 0.7 %

NYSE RLI opened at $141.24 on Tuesday. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 19.51 and a beta of 0.41. RLI Corp. has a twelve month low of $125.77 and a twelve month high of $149.20. The business’s fifty day moving average is $143.73 and its 200 day moving average is $141.25.

RLI (NYSE:RLIGet Free Report) last announced its earnings results on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.63 by $0.26. The firm had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. RLI had a return on equity of 17.24% and a net margin of 20.96%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 EPS. On average, research analysts anticipate that RLI Corp. will post 5.84 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 31st. This is an increase from RLI’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 0.82%. RLI’s payout ratio is presently 16.02%.

RLI 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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