Donaldson Capital Management LLC Invests $3.47 Million in RLI Corp. (NYSE:RLI)

Donaldson Capital Management LLC bought a new position in shares of RLI Corp. (NYSE:RLI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 22,383 shares of the insurance provider’s stock, valued at approximately $3,469,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RLI. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of RLI by 1.2% in the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider’s stock valued at $892,000 after acquiring an additional 68 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in RLI by 45.6% during 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 during the period. Mercer Global Advisors Inc. ADV lifted its holdings in shares of RLI by 5.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock valued at $230,000 after purchasing an additional 89 shares in the last quarter. Inspire Investing LLC boosted its position in shares of RLI by 3.8% in the second quarter. Inspire Investing LLC now owns 2,502 shares of the insurance provider’s stock worth $352,000 after buying an additional 92 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in shares of RLI by 0.9% during the third quarter. Louisiana State Employees Retirement System now owns 11,500 shares of the insurance provider’s stock valued at $1,782,000 after buying an additional 100 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Up 0.8 %

Shares of RLI stock opened at $157.21 on Monday. RLI Corp. has a 12-month low of $125.77 and a 12-month high of $164.25. The stock has a market capitalization of $7.20 billion, a P/E ratio of 17.28 and a beta of 0.41. The stock has a 50 day moving average price of $155.38 and a two-hundred day moving average price of $147.97.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.33. The business had revenue of $470.00 million during the quarter, compared to the consensus estimate of $491.54 million. RLI had a net margin of 23.77% and a return on equity of 19.03%. RLI’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS. Sell-side analysts anticipate that RLI Corp. will post 5.93 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. Stockholders of record on Friday, August 30th were paid a $0.29 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.16 annualized dividend and a dividend yield of 0.74%. RLI’s payout ratio is 12.75%.

Analyst Upgrades and Downgrades

RLI has been the subject of several research analyst reports. JMP Securities restated a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Jefferies Financial Group raised their price target on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods upped their price objective on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Royal Bank of Canada boosted their price target on shares of RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Wolfe Research began coverage on RLI in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.40.

RLI Company 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.