Atria Investments Inc Grows Stock Position in RLI Corp. $RLI

Atria Investments Inc lifted its stake in RLI Corp. (NYSE:RLI) by 17.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 19,776 shares of the insurance provider’s stock after buying an additional 2,957 shares during the period. Atria Investments Inc’s holdings in RLI were worth $1,428,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RLI. Vanguard Group Inc. increased its holdings 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 buying an additional 4,388,400 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of RLI by 117.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,226,797 shares of the insurance provider’s stock worth $419,869,000 after buying an additional 2,817,616 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of RLI by 106.6% in the first quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider’s stock worth $220,967,000 after buying an additional 1,419,212 shares during the period. Markel Group Inc. increased its holdings in shares of RLI by 100.0% in the first quarter. Markel Group Inc. now owns 2,394,544 shares of the insurance provider’s stock worth $192,354,000 after buying an additional 1,197,272 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of RLI by 97.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider’s stock worth $149,569,000 after buying an additional 920,799 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Stock Performance

RLI stock opened at $60.64 on Thursday. The stock’s 50 day simple moving average is $63.81 and its two-hundred day simple moving average is $68.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 15.92 and a beta of 0.61. RLI Corp. has a fifty-two week low of $57.75 and a fifty-two week high of $91.14.

RLI (NYSE:RLI) last posted its quarterly earnings data 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. The business had revenue of $510.22 million for the quarter, compared to analysts’ expectations of $444.75 million. RLI had a return on equity of 16.51% and a net margin of 19.02%.During the same period in the previous year, the firm posted $1.31 EPS. As a group, analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 29th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 29th. RLI’s payout ratio is presently 16.80%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Truist Financial set a $62.00 price objective on RLI and gave the stock a “hold” rating in a report on Friday, October 3rd. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, RLI currently has an average rating of “Hold” and a consensus target price of $72.80.

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.