10,429 Shares in RLI Corp. $RLI Bought by Lido Advisors LLC

Lido Advisors LLC purchased a new stake in RLI Corp. (NYSE:RLI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,429 shares of the insurance provider’s stock, valued at approximately $753,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake 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 worth $722,700,000 after acquiring an additional 4,388,400 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in RLI by 117.0% during the 1st 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 purchasing an additional 2,817,616 shares during the period. Neuberger Berman Group LLC raised its holdings in RLI by 106.6% during the 1st quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider’s stock worth $220,967,000 after purchasing an additional 1,419,212 shares during the last quarter. Norges Bank bought a new position in RLI during the 2nd quarter worth approximately $74,533,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of 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 purchasing an additional 920,799 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Stock Down 1.1%

RLI stock opened at $62.47 on Friday. The company has a market capitalization of $5.74 billion, a PE ratio of 16.40 and a beta of 0.56. RLI Corp. has a 12-month low of $57.75 and a 12-month high of $86.71. The firm’s fifty day moving average is $62.31 and its 200 day moving average is $67.11. 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 posted its quarterly earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.21. RLI had a net margin of 19.02% and a return on equity of 16.51%. The firm had revenue of $509.26 million during the quarter, compared to the consensus estimate of $444.75 million. During the same period in the previous year, the firm posted $1.31 earnings per share. As a group, sell-side analysts predict that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RLI. Truist Financial set a $62.00 price objective on shares of RLI and gave the stock a “hold” rating in a research report on Friday, October 3rd. 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 given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock 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.