Prospera Financial Services Inc Boosts Stock Holdings in RLI Corp. $RLI

Prospera Financial Services Inc boosted its stake in shares of RLI Corp. (NYSE:RLI) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 151,387 shares of the insurance provider’s stock after buying an additional 1,105 shares during the quarter. Prospera Financial Services Inc owned approximately 0.16% of RLI worth $10,933,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RLI. Cambridge Investment Research Advisors Inc. grew its stake in RLI by 112.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,871 shares of the insurance provider’s stock valued at $311,000 after acquiring an additional 2,047 shares in the last quarter. D.A. Davidson & CO. grew its position in RLI by 170.0% during the first quarter. D.A. Davidson & CO. now owns 4,525 shares of the insurance provider’s stock valued at $363,000 after acquiring an additional 2,849 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of RLI by 90.0% during the first quarter. Bank of New York Mellon Corp now owns 650,583 shares of the insurance provider’s stock worth $52,261,000 after acquiring an additional 308,154 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in RLI by 74.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 177,477 shares of the insurance provider’s stock valued at $14,257,000 after acquiring an additional 75,673 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in RLI by 99.4% in the 1st quarter. Crossmark Global Holdings Inc. now owns 7,685 shares of the insurance provider’s stock worth $617,000 after purchasing an additional 3,830 shares during the period. Institutional investors own 77.89% of the company’s stock.

RLI Price Performance

NYSE:RLI opened at $62.11 on Friday. The business’s 50-day moving average is $63.56 and its 200 day moving average is $68.80. RLI Corp. has a 12 month low of $57.75 and a 12 month high of $91.14. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $5.70 billion, a P/E ratio of 16.30 and a beta of 0.61.

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 analysts’ consensus estimates 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 net margin of 19.02% and a return on equity of 16.51%. During the same quarter in the previous year, the business posted $1.31 earnings per share. On average, equities research analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 29th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 29th. RLI’s dividend payout ratio (DPR) is 16.80%.

Analyst Ratings Changes

Several research firms recently issued reports on RLI. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. Finally, Truist Financial set a $62.00 price objective on shares of RLI and gave the stock a “hold” rating in a research note on Friday, October 3rd. One 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 data from MarketBeat.com, RLI presently has an average rating of “Hold” and an average target price of $72.80.

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.