RLI Corp. (NYSE:RLI) Shares Purchased by Donaldson Capital Management LLC

Donaldson Capital Management LLC boosted its stake in RLI Corp. (NYSE:RLI) by 114.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,202 shares of the insurance provider’s stock after acquiring an additional 27,841 shares during the quarter. Donaldson Capital Management LLC owned about 0.06% of RLI worth $4,193,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of RLI by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 471,752 shares of the insurance provider’s stock worth $77,759,000 after purchasing an additional 9,131 shares in the last quarter. New York Life Investment Management LLC purchased a new stake in RLI during the 4th quarter worth $728,000. Raymond James Financial Inc. purchased a new stake in RLI during the 4th quarter worth $17,854,000. Empowered Funds LLC acquired a new position in RLI in the 4th quarter worth $840,000. Finally, Confluence Investment Management LLC acquired a new position in RLI in the 1st quarter worth $1,120,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RLI shares. Wall Street Zen upgraded RLI from a “sell” rating to a “hold” rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods reduced their price target on RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Compass Point downgraded RLI from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, RLI presently has an average rating of “Hold” and an average target price of $78.60.

Insiders Place Their Bets

In related news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $74.89, for a total transaction of $214,484.96. Following the sale, the director now owns 23,312 shares in the company, valued at $1,745,835.68. This represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.16% of the stock is currently owned by corporate insiders.

RLI Stock Performance

Shares of RLI stock opened at $73.33 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. RLI Corp. has a 1 year low of $68.50 and a 1 year high of $91.15. The firm’s 50-day simple moving average is $75.30 and its 200-day simple moving average is $77.68. The firm has a market cap of $6.73 billion, a PE ratio of 19.58 and a beta of 0.70.

RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. RLI had a return on equity of 16.63% and a net margin of 19.53%. The firm had revenue of $36.73 million during the quarter, compared to analyst estimates of $442.20 million. During the same period in the previous year, the company earned $0.95 earnings per share. RLI’s quarterly revenue was down 8.3% on a year-over-year basis. Equities analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 30th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, May 30th. This is a boost from RLI’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 0.87%. RLI’s dividend payout ratio (DPR) is 21.05%.

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.