EverSource Wealth Advisors LLC Grows Holdings in RLI Corp. (NYSE:RLI)

EverSource Wealth Advisors LLC grew its stake in RLI Corp. (NYSE:RLI) by 45.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246 shares of the insurance provider’s stock after buying an additional 77 shares during the period. EverSource Wealth Advisors LLC’s holdings in RLI were worth $37,000 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 stock. Mercer Global Advisors Inc. ADV grew its stake in RLI by 5.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock worth $230,000 after buying an additional 89 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of RLI by 3.8% in the 2nd quarter. Inspire Investing LLC now owns 2,502 shares of the insurance provider’s stock worth $352,000 after acquiring an additional 92 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted 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 worth $3,832,000 after acquiring an additional 128 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its holdings 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 worth $389,000 after acquiring an additional 134 shares during the last quarter. Finally, Resonant Capital Advisors LLC lifted its holdings 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 worth $659,000 after acquiring an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Stock Up 0.2 %

NYSE:RLI opened at $153.94 on Friday. RLI Corp. has a 52 week low of $125.77 and a 52 week high of $155.59. The firm has a market capitalization of $7.04 billion, a P/E ratio of 21.26 and a beta of 0.41. The company has a fifty day moving average of $150.01 and a 200 day moving average of $145.57.

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

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 annualized dividend and a yield of 0.75%. RLI’s dividend payout ratio (DPR) is presently 16.02%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JMP Securities restated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $155.00 price objective on shares of RLI in a report on Wednesday, July 24th. Jefferies Financial Group lowered their price objective on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, June 14th. Compass Point lowered their price target on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods upped their price target on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.25.

RLI Profile

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.