Securian Asset Management Inc. Grows Holdings in RLI Corp. (NYSE:RLI)

Securian Asset Management Inc. boosted its position in shares of RLI Corp. (NYSE:RLI) by 104.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,334 shares of the insurance provider’s stock after buying an additional 3,236 shares during the quarter. Securian Asset Management Inc.’s holdings in RLI were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in shares of RLI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider’s stock worth $30,000 after buying an additional 186 shares during the period. Versant Capital Management Inc lifted its stake in shares of RLI by 100.0% in the 1st quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 203 shares during the period. Farther Finance Advisors LLC raised its stake in RLI by 88.5% during the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 224 shares during the period. Compass Wealth Management LLC raised its stake in RLI by 100.0% during the 1st quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 240 shares during the period. Finally, ORG Partners LLC raised its position in shares of RLI by 100.0% during the first quarter. ORG Partners LLC now owns 566 shares of the insurance provider’s stock valued at $46,000 after buying an additional 283 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on RLI shares. Compass Point lowered shares of RLI from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 25th. Keefe, Bruyette & Woods dropped their target price on RLI from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $78.60.

RLI Trading Down 0.2%

NYSE:RLI opened at $70.30 on Friday. The company has a market cap of $6.45 billion, a PE ratio of 23.13 and a beta of 0.67. RLI Corp. has a 52 week low of $69.16 and a 52 week high of $91.15. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $73.30 and its two-hundred day moving average is $75.20.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. RLI had a return on equity of 16.26% and a net margin of 16.22%. The business had revenue of $36.73 million during the quarter, compared to analysts’ expectations of $442.20 million. During the same quarter last year, the firm posted $0.95 earnings per share. RLI’s revenue was down 8.3% compared to the same quarter last year. On average, analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 30th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.91%. This is a positive change from RLI’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 30th. RLI’s dividend payout ratio (DPR) is presently 21.05%.

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.