RLI Corp. (NYSE:RLI) Shares Acquired by Focus Financial Network Inc.

Focus Financial Network Inc. increased its position in RLI Corp. (NYSE:RLI) by 95.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,631 shares of the insurance provider’s stock after buying an additional 1,769 shares during the quarter. Focus Financial Network Inc.’s holdings in RLI were worth $292,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $77,759,000 after purchasing an additional 9,131 shares during the last quarter. New York Life Investment Management LLC acquired a new position in RLI in the 4th quarter worth about $728,000. Raymond James Financial Inc. acquired a new position in RLI in the 4th quarter worth about $17,854,000. Empowered Funds LLC acquired a new position in RLI in the 4th quarter worth about $840,000. Finally, Confluence Investment Management LLC acquired a new position in RLI in the 1st quarter worth about $1,120,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on RLI shares. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods reduced their price objective on RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Compass Point cut RLI from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 25th. Finally, JMP Securities reissued 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 given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $78.60.

RLI Price Performance

RLI stock opened at $73.03 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38. The company has a market capitalization of $6.70 billion, a PE ratio of 19.50 and a beta of 0.70. RLI Corp. has a one year low of $68.50 and a one year high of $91.15. The business has a 50 day simple moving average of $75.27 and a 200 day simple moving average of $77.42.

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

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 30th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.88%. This is a boost from RLI’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, May 30th. RLI’s payout ratio is presently 21.05%.

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.