Klein Pavlis & Peasley Financial Inc. Acquires 68 Shares of RLI Corp. (NYSE:RLI)

Klein Pavlis & Peasley Financial Inc. grew its position in RLI Corp. (NYSE:RLI) by 1.2% during the 3rd quarter, Holdings Channel reports. The firm owned 5,757 shares of the insurance provider’s stock after purchasing an additional 68 shares during the quarter. Klein Pavlis & Peasley Financial Inc.’s holdings in RLI were worth $892,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RLI. Jacobs Levy Equity Management Inc. boosted its stake in shares of RLI by 237.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 207,883 shares of the insurance provider’s stock valued at $30,864,000 after purchasing an additional 146,324 shares in the last quarter. Maren Capital LLC boosted its holdings in RLI by 21.3% in the first quarter. Maren Capital LLC now owns 612,081 shares of the insurance provider’s stock valued at $90,876,000 after acquiring an additional 107,655 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in RLI by 585.0% in the first quarter. Russell Investments Group Ltd. now owns 41,649 shares of the insurance provider’s stock valued at $6,184,000 after acquiring an additional 35,569 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in RLI by 2,611.1% in the second quarter. Cubist Systematic Strategies LLC now owns 34,838 shares of the insurance provider’s stock worth $4,901,000 after purchasing an additional 33,553 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of RLI by 14.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 265,365 shares of the insurance provider’s stock valued at $39,400,000 after purchasing an additional 33,435 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on RLI shares. Jefferies Financial Group lifted their target price on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JMP Securities reissued a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Compass Point upped their price objective on shares of RLI from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday. Wolfe Research assumed coverage on shares of RLI in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price objective for the company. Finally, Royal Bank of Canada upped their price objective on shares of RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. 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 company has an average rating of “Moderate Buy” and a consensus target price of $177.40.

RLI Price Performance

NYSE:RLI opened at $155.30 on Monday. The stock’s 50-day simple moving average is $154.75 and its 200 day simple moving average is $147.29. RLI Corp. has a 52-week low of $125.77 and a 52-week high of $164.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market cap of $7.10 billion, a P/E ratio of 21.45 and a beta of 0.41.

RLI (NYSE:RLI) last issued its earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.33. The business had revenue of $470.00 million for 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%. The firm’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. As a group, sell-side analysts forecast that RLI Corp. will post 6.07 EPS for the current fiscal year.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 30th. RLI’s dividend payout ratio (DPR) is presently 16.02%.

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.