GAMMA Investing LLC Purchases 959 Shares of RLI Corp. (NYSE:RLI)

GAMMA Investing LLC boosted its position in shares of RLI Corp. (NYSE:RLI) by 92.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,994 shares of the insurance provider’s stock after purchasing an additional 959 shares during the quarter. GAMMA Investing LLC’s holdings in RLI were worth $160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RLI. SBI Securities Co. Ltd. bought a new position in shares of RLI in the fourth quarter worth approximately $56,000. Versant Capital Management Inc increased its position in shares of RLI by 100.0% during the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 203 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in RLI by 88.5% in 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 last quarter. EverSource Wealth Advisors LLC raised its holdings in RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock worth $82,000 after acquiring an additional 159 shares during the last quarter. Finally, Quarry LP bought a new position in RLI in the 4th quarter valued at approximately $108,000. 77.89% of the stock is currently owned by institutional investors.

RLI Price Performance

Shares of RLI opened at $71.70 on Friday. The firm has a fifty day simple moving average of $73.91 and a two-hundred day simple moving average of $75.96. The firm has a market cap of $6.58 billion, a PE ratio of 23.59 and a beta of 0.67. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. RLI Corp. has a 1-year low of $68.50 and a 1-year high of $91.15.

RLI (NYSE:RLI) last issued its quarterly earnings data 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 company had revenue of $36.73 million during the quarter, compared to analyst estimates of $442.20 million. During the same quarter in the previous year, the company posted $0.95 earnings per share. RLI’s revenue was down 8.3% compared to the same quarter last year. On average, equities analysts anticipate that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 30th were paid a dividend of $0.16 per share. This is an increase from RLI’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, May 30th. RLI’s payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

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

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.