Dundas Partners LLP Buys New Shares in RLI Corp. $RLI

Dundas Partners LLP bought a new position in RLI Corp. (NYSE:RLI) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,800 shares of the insurance provider’s stock, valued at approximately $347,000.

Several other large investors have also added to or reduced their stakes in RLI. Vanguard Group Inc. increased its holdings in shares of RLI by 95.2% in the first quarter. Vanguard Group Inc. now owns 8,996,643 shares of the insurance provider’s stock valued at $722,700,000 after purchasing an additional 4,388,400 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in RLI by 117.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,226,797 shares of the insurance provider’s stock valued at $419,869,000 after buying an additional 2,817,616 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in RLI by 106.6% in the 1st quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider’s stock worth $220,967,000 after buying an additional 1,419,212 shares during the period. Dimensional Fund Advisors LP increased its holdings in RLI by 97.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider’s stock worth $149,569,000 after buying an additional 920,799 shares during the period. Finally, Maren Capital LLC raised its position in RLI by 121.5% during the 1st quarter. Maren Capital LLC now owns 1,552,053 shares of the insurance provider’s stock worth $124,676,000 after buying an additional 851,450 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Stock Performance

RLI opened at $64.16 on Friday. The firm has a fifty day moving average price of $62.73 and a 200 day moving average price of $67.98. RLI Corp. has a 1 year low of $57.75 and a 1 year high of $91.14. The stock has a market cap of $5.89 billion, a P/E ratio of 16.84 and a beta of 0.61. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.35 and a quick ratio of 0.35.

RLI (NYSE:RLI) last released its quarterly earnings data on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.21. The company had revenue of $509.26 million during the quarter, compared to analysts’ expectations of $444.75 million. RLI had a net margin of 19.02% and a return on equity of 16.51%. During the same quarter in the previous year, the company earned $1.31 earnings per share. Equities research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, November 28th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. RLI’s dividend payout ratio is presently 16.80%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RLI. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Truist Financial set a $62.00 target price on shares of RLI and gave the company a “hold” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed 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 assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, RLI currently has a consensus rating of “Hold” and an average price target 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.