RLI Corp. (NYSE:RLI) Stock Holdings Lessened by Benedict Financial Advisors Inc.

Benedict Financial Advisors Inc. lowered its stake in shares of RLI Corp. (NYSE:RLI) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,664 shares of the insurance provider’s stock after selling 99 shares during the period. Benedict Financial Advisors Inc.’s holdings in RLI were worth $2,428,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RLI. UMB Bank n.a. lifted its holdings in shares of RLI by 620.0% during the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after buying an additional 155 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in RLI in the third quarter worth approximately $32,000. American National Bank bought a new stake in RLI in the second quarter worth approximately $35,000. EverSource Wealth Advisors LLC increased its stake in shares of RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 77 shares during the last quarter. Finally, American National Bank & Trust raised its holdings in shares of RLI by 62.5% during the 3rd quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock valued at $62,000 after purchasing 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

RLI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods boosted their price target on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Oppenheimer started coverage on RLI in a report on Wednesday, October 16th. They set a “market perform” rating on the stock. Compass Point boosted their price objective on shares of RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group raised their target price on shares of RLI from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada boosted their target price on shares of RLI from $162.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $177.40.

RLI Stock Performance

RLI stock traded down $3.92 during mid-day trading on Friday, reaching $155.30. The company had a trading volume of 113,859 shares, compared to its average volume of 154,336. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 17.07 and a beta of 0.41. The company has a 50 day moving average of $154.75 and a 200-day moving average of $147.21. RLI Corp. has a 52 week low of $125.77 and a 52 week high of $164.25.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.33. RLI had a return on equity of 19.03% and a net margin of 23.77%. The firm had revenue of $470.00 million for the quarter, compared to analyst estimates of $491.54 million. During the same period in the previous year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 41.7% compared to the same quarter last year. On average, sell-side analysts expect that RLI Corp. will post 6.07 EPS for the current fiscal year.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a $0.29 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.16 annualized dividend and a yield of 0.75%. RLI’s dividend payout ratio (DPR) is currently 12.75%.

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.