Global Alpha Capital Management Ltd. Purchases 23,800 Shares of RLI Corp. $RLI

Global Alpha Capital Management Ltd. increased its position in RLI Corp. (NYSE:RLI) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 546,886 shares of the insurance provider’s stock after buying an additional 23,800 shares during the quarter. RLI accounts for approximately 2.5% of Global Alpha Capital Management Ltd.’s investment portfolio, making the stock its 17th largest position. Global Alpha Capital Management Ltd.’s holdings in RLI were worth $39,496,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in RLI by 112.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,871 shares of the insurance provider’s stock worth $311,000 after purchasing an additional 2,047 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of RLI by 170.0% in the 1st quarter. D.A. Davidson & CO. now owns 4,525 shares of the insurance provider’s stock valued at $363,000 after buying an additional 2,849 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of RLI by 90.0% in the first quarter. Bank of New York Mellon Corp now owns 650,583 shares of the insurance provider’s stock valued at $52,261,000 after buying an additional 308,154 shares during the period. Envestnet Asset Management Inc. raised its position in shares of RLI by 74.3% during the first quarter. Envestnet Asset Management Inc. now owns 177,477 shares of the insurance provider’s stock worth $14,257,000 after acquiring an additional 75,673 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of RLI by 99.4% in the first quarter. Crossmark Global Holdings Inc. now owns 7,685 shares of the insurance provider’s stock worth $617,000 after acquiring an additional 3,830 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Trading Up 2.4%

NYSE RLI opened at $62.11 on Friday. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 16.30 and a beta of 0.61. RLI Corp. has a 52 week low of $57.75 and a 52 week high of $91.14. The business has a 50 day moving average price of $63.56 and a 200-day moving average price of $68.80. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.05.

RLI (NYSE:RLI) last issued its earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.21. The company had revenue of $510.22 million for the quarter, compared to analysts’ expectations of $444.75 million. RLI had a return on equity of 16.51% and a net margin of 19.02%.During the same period last year, the business earned $1.31 EPS. As a group, equities analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 29th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. RLI’s payout ratio is presently 16.80%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RLI shares. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Truist Financial set a $62.00 price objective on shares of RLI and gave the company a “hold” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $72.80.

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.