Resonant Capital Advisors LLC Sells 427 Shares of RLI Corp. (NYSE:RLI)

Resonant Capital Advisors LLC lowered its stake in shares of RLI Corp. (NYSE:RLI) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,300 shares of the insurance provider’s stock after selling 427 shares during the quarter. Resonant Capital Advisors LLC’s holdings in RLI were worth $572,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new stake in RLI during the 4th quarter worth about $25,000. Eagle Bay Advisors LLC bought a new stake in RLI during the 2nd quarter worth about $25,000. Compass Wealth Management LLC bought a new stake in RLI during the 4th quarter worth about $32,000. Gladius Capital Management LP grew its holdings in RLI by 129.7% during the 3rd quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 153 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of RLI in the 3rd quarter valued at about $60,000. Institutional investors own 77.89% of the company’s stock.

RLI Stock Performance

Shares of NYSE:RLI opened at $140.18 on Friday. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 21.17 and a beta of 0.37. The firm’s 50 day simple moving average is $144.42 and its 200 day simple moving average is $138.71. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. RLI Corp. has a fifty-two week low of $123.04 and a fifty-two week high of $149.65.

RLI (NYSE:RLI) last announced its quarterly earnings results on Tuesday, January 23rd. The insurance provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.10. The business had revenue of $433.52 million for the quarter, compared to the consensus estimate of $423.12 million. RLI had a net margin of 20.15% and a return on equity of 17.02%. RLI’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the company posted $1.53 EPS. As a group, sell-side analysts forecast that RLI Corp. will post 5.56 earnings per share for the current year.

RLI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.08 annualized dividend and a yield of 0.77%. RLI’s dividend payout ratio (DPR) is currently 16.31%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RLI shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 target price on shares of RLI in a research note on Friday, January 26th. Keefe, Bruyette & Woods raised their target price on shares of RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th.

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.