RLI Corp. (NYSE:RLI) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in shares of RLI Corp. (NYSE:RLI) by 327.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,593 shares of the insurance provider’s stock after purchasing an additional 3,518 shares during the quarter. SG Americas Securities LLC’s holdings in RLI were worth $712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American National Bank purchased a new stake in shares of RLI in the second quarter valued at about $35,000. EverSource Wealth Advisors LLC boosted its holdings 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 purchasing an additional 77 shares in the last quarter. Riverview Trust Co purchased a new position in shares of RLI during the 1st quarter worth approximately $44,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of RLI by 468.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock valued at $46,000 after buying an additional 253 shares during the period. Finally, American National Bank & Trust boosted its stake in shares of RLI by 62.5% in the third quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock valued at $62,000 after buying an additional 155 shares in the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RLI shares. Keefe, Bruyette & Woods increased their price objective on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Compass Point reduced their price objective on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Jefferies Financial Group upped their target price on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wolfe Research assumed coverage on shares of RLI in a research report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price target for the company. Finally, JMP Securities restated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.80.

RLI Trading Up 0.3 %

NYSE:RLI opened at $157.45 on Monday. RLI Corp. has a twelve month low of $125.77 and a twelve month high of $160.47. The company has a market capitalization of $7.20 billion, a P/E ratio of 21.48 and a beta of 0.41. The firm has a 50-day moving average price of $152.03 and a two-hundred day moving average price of $146.24.

RLI (NYSE:RLI) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.37. The firm had revenue of $416.44 million during the quarter, compared to the consensus estimate of $561.60 million. RLI had a return on equity of 18.33% and a net margin of 20.78%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 EPS. On average, equities research analysts predict that RLI Corp. will post 6.14 earnings per share for the current year.

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, August 30th. RLI’s payout ratio is currently 15.83%.

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.