173,440 Shares of RLI Corp. $RLI Purchased by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. purchased a new stake in shares of RLI Corp. (NYSE:RLI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 173,440 shares of the insurance provider’s stock, valued at approximately $9,593,000. Schwartz Investment Counsel Inc. owned about 0.19% of RLI as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RLI. Signaturefd LLC raised its holdings in RLI by 9.8% in the 3rd quarter. Signaturefd LLC now owns 3,723 shares of the insurance provider’s stock worth $206,000 after acquiring an additional 333 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in RLI by 16.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,667 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 802 shares during the last quarter. Compass Wealth Management LLC purchased a new stake in RLI during the 3rd quarter valued at $27,000. Counterpoint Mutual Funds LLC bought a new stake in shares of RLI in the 3rd quarter worth $575,000. Finally, GAMMA Investing LLC increased its holdings in shares of RLI by 78.3% in the 3rd quarter. GAMMA Investing LLC now owns 9,865 shares of the insurance provider’s stock worth $546,000 after purchasing an additional 4,331 shares in the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on RLI. Weiss Ratings upgraded RLI from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 28th. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 price objective (up from $69.00) on shares of RLI in a research report on Wednesday, October 21st. UBS Group set a $74.00 price objective on RLI in a report on Tuesday, July 28th. Finally, Jefferies Financial Group downgraded RLI from a “hold” rating to an “underperform” rating and set a $53.00 price objective for the company. in a report on Tuesday, August 25th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, RLI has an average rating of “Reduce” and a consensus target price of $62.40.

RLI Stock Performance

Shares of RLI stock opened at $63.99 on Wednesday. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $67.28. The firm’s 50 day moving average is $60.68 and its 200 day moving average is $58.62.

RLI (NYSE:RLI) last posted its earnings results on Monday, October 19th. The insurance provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.32. The company had revenue of $476.96 million during the quarter, compared to the consensus estimate of $533.51 million. During the same period last year, the firm posted $0.83 EPS. On average, analysts predict that RLI Corp. will post 3.11 earnings per share for the current year.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.1%.

RLI Profile

RLI Corp. (NYSE: RLI) is a specialty insurance company that underwrites property and casualty insurance products for commercial and personal customers. The company focuses on specialized risks that may not be adequately served by standard insurance carriers.

RLI’s offerings include commercial property and casualty coverage, professional liability insurance, surety bonds, transportation-related insurance, and personal lines such as homeowners and personal umbrella coverage. Its products are distributed through independent agents, brokers, and other insurance intermediaries.

Founded in 1965 and headquartered in Peoria, Illinois, RLI serves customers primarily throughout the United States.