US Bancorp DE Increases Holdings in RLI Corp. (NYSE:RLI)

US Bancorp DE grew its holdings in shares of RLI Corp. (NYSE:RLI) by 210.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,816 shares of the insurance provider’s stock after buying an additional 2,587 shares during the quarter. US Bancorp DE’s holdings in RLI were worth $307,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in RLI. Golden State Wealth Management LLC raised its position in shares of RLI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider’s stock valued at $30,000 after buying an additional 186 shares in the last quarter. Versant Capital Management Inc raised its position in shares of RLI by 100.0% during the 1st quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider’s stock valued at $33,000 after buying an additional 203 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of RLI by 88.5% during the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider’s stock valued at $38,000 after buying an additional 224 shares in the last quarter. Compass Wealth Management LLC raised its position in shares of RLI by 100.0% during the 1st quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider’s stock valued at $39,000 after buying an additional 240 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of RLI by 56.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider’s stock valued at $43,000 after buying an additional 192 shares in the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Stock Performance

RLI stock opened at $67.61 on Thursday. The company has a 50 day moving average price of $70.28 and a 200-day moving average price of $73.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35. RLI Corp. has a fifty-two week low of $65.14 and a fifty-two week high of $91.14. The company has a market capitalization of $6.21 billion, a PE ratio of 19.37 and a beta of 0.66.

RLI (NYSE:RLI) last released its quarterly earnings data on Monday, July 21st. The insurance provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. The company had revenue of $562.28 million for the quarter, compared to the consensus estimate of $445.55 million. RLI had a return on equity of 15.82% and a net margin of 17.81%. RLI’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period last year, the business posted $1.72 EPS. As a group, equities analysts forecast that RLI Corp. will post 3.08 earnings per share for the current year.

Wall Street Analyst Weigh In

RLI has been the subject of several analyst reports. Compass Point downgraded shares of RLI from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 25th. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, JMP Securities reissued a “market perform” rating on shares of RLI in a research note on Thursday, April 24th. One investment 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $78.60.

Insiders Place Their Bets

In other news, COO Jennifer L. Klobnak bought 3,000 shares of the firm’s stock in a transaction on Thursday, July 24th. The stock was acquired at an average cost of $69.15 per share, with a total value of $207,450.00. Following the transaction, the chief operating officer directly owned 98,450 shares in the company, valued at approximately $6,807,817.50. This trade represents a 3.14% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.16% of the stock is currently owned by company insiders.

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.