Whittier Trust Co. Has $13.57 Million Position in RLI Corp. (NYSE:RLI)

Whittier Trust Co. lifted its holdings in shares of RLI Corp. (NYSE:RLI) by 4.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 87,580 shares of the insurance provider’s stock after buying an additional 3,835 shares during the period. Whittier Trust Co.’s holdings in RLI were worth $13,573,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. UMB Bank n.a. grew its position in shares of RLI by 620.0% in the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 155 shares during the last quarter. V Square Quantitative Management LLC bought a new position in RLI during the 3rd quarter worth $32,000. EverSource Wealth Advisors LLC lifted its holdings in shares of RLI by 45.6% during the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after buying an additional 77 shares in the last quarter. American National Bank bought a new stake in shares of RLI in the second quarter valued at about $35,000. Finally, Riverview Trust Co acquired a new position in shares of RLI in the first quarter valued at about $44,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Stock Performance

Shares of NYSE:RLI traded down $1.43 during mid-day trading on Monday, reaching $161.56. 82,375 shares of the company’s stock were exchanged, compared to its average volume of 152,347. The business’s fifty day moving average price is $153.60 and its 200-day moving average price is $146.74. RLI Corp. has a twelve month low of $125.77 and a twelve month high of $164.25. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 22.51 and a beta of 0.41.

RLI (NYSE:RLI) last issued its earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.37. RLI had a return on equity of 18.33% and a net margin of 20.78%. The business had revenue of $416.44 million during the quarter, compared to the consensus estimate of $561.60 million. During the same period in the previous year, the company posted $1.16 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts predict that RLI Corp. will post 6.14 EPS for the current fiscal year.

RLI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, August 30th. This represents a $1.16 annualized dividend and a yield of 0.72%. RLI’s payout ratio is 16.02%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Jefferies Financial Group lifted their price objective on RLI from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Compass Point lowered their target price on RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Oppenheimer initiated coverage on shares of RLI in a report on Wednesday, October 16th. They set a “market perform” rating on the stock. JMP Securities reissued a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Finally, Wolfe Research started coverage on RLI in a report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $173.80.

RLI 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.