RLI Corp. (NYSE:RLI) Shares Bought by Whittier Trust Co.

Whittier Trust Co. lifted its holdings in RLI Corp. (NYSE:RLI) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,580 shares of the insurance provider’s stock after purchasing an additional 3,835 shares during the period. Whittier Trust Co. owned about 0.19% of RLI worth $13,573,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RLI. Nepsis Inc. boosted its holdings in shares of RLI by 19.1% during the third quarter. Nepsis Inc. now owns 124,156 shares of the insurance provider’s stock worth $19,242,000 after purchasing an additional 19,940 shares during the period. Raymond James & Associates grew its holdings in shares of RLI by 2.9% during the 3rd quarter. Raymond James & Associates now owns 73,514 shares of the insurance provider’s stock worth $11,393,000 after purchasing an additional 2,072 shares in the last quarter. Blue Trust Inc. increased its position in shares of RLI by 138.0% during the third quarter. Blue Trust Inc. now owns 2,156 shares of the insurance provider’s stock valued at $334,000 after purchasing an additional 1,250 shares during the period. Laurus Investment Counsel Inc. raised its stake in shares of RLI by 53.2% in the third quarter. Laurus Investment Counsel Inc. now owns 10,280 shares of the insurance provider’s stock valued at $1,593,000 after purchasing an additional 3,570 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in RLI during the third quarter worth $32,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Stock Performance

Shares of NYSE RLI traded down $1.43 during trading on Monday, reaching $161.56. The company had a trading volume of 82,375 shares, compared to its average volume of 152,347. RLI Corp. has a 52 week low of $125.77 and a 52 week high of $164.25. The business’s 50 day moving average price is $153.60 and its 200-day moving average price is $146.74. The stock has a market cap of $7.38 billion, a PE ratio of 22.51 and a beta of 0.41.

RLI (NYSE:RLI) last posted 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 for 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 business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 EPS. Equities analysts anticipate that RLI Corp. will post 6.14 earnings per share for the current year.

RLI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, August 30th. RLI’s dividend payout ratio (DPR) is 16.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RLI shares. Royal Bank of Canada restated a “sector perform” rating and issued a $162.00 price objective on shares of RLI in a research note on Tuesday, October 8th. Compass Point decreased their price objective on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group increased their target price on RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price target on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Oppenheimer began coverage on RLI in a report on Wednesday, October 16th. They set a “market perform” rating for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.80.

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.