Versor Investments LP buys new stake in RLI Corp. (NYSE:RLI)

Versor Investments LP purchased a new position in shares of RLI Corp. (NYSE:RLI – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 2,600 shares of the insurance provider’s stock, valued at approximately $366,000.

Several other institutional investors have also recently made changes to their positions in RLI. American National Bank bought a new position in shares of RLI in the second quarter valued at $35,000. Riverview Trust Co bought a new stake in RLI in the 1st quarter worth $44,000. Intelligent Financial Strategies acquired a new stake in RLI in the first quarter valued at $45,000. Benjamin F. Edwards & Company Inc. raised its position in shares of RLI by 468.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 253 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in shares of RLI in the 1st quarter worth approximately $73,000. Institutional investors and hedge funds own 77.89% of the company’s shares.

RLI trading down 0.8%

NYSE:RLI opened at $152.89 on Friday. The stock has a 50-day simple moving average of $146.00 and a 200-day simple moving average of $144.85. The stock has a market cap of $6.99 billion, a P/E ratio of 21.12 and a beta of 0.41. RLI Corp. has a 1 year low of $125.77 and a 1 year high of $155.59.

RLI (NYSE:RLI – Get Your Free Report ) last posted its earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.37. RLI had a return on equity of 18.33% and a net margin of 20.78%. The company had revenue of $416.44 million during the quarter, compared to the consensus estimate of $561.60 million. In the same quarter last year, the company earned $1.16 per share. The company’s revenue rose 9.1% year-over-year. As a group, sell-side analysts forecast that RLI Corp. will post 6.14 EPS for the current year.

RLI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 30. This represents an annualized dividend of $1.16 and a dividend yield of 0.76%. RLI’s dividend payout ratio is currently 16.02%.

Analysts set new price targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $155.00 target price on shares of RLI in a research note on Wednesday, July 24th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Compass Point cut their price target on RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods upped their target price on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group reduced their price objective on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, 14 June. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and an average target price of $166.25, according to MarketBeat.com.

Read the latest stock analysis on RLI

RLI profile

(Free report)

RLI Corp., an insurance holding company, underwrites property and casualty insurance. The casualty segment offers commercial and personal coverage products; and general liability products, such as third-party liability coverage for commercial policyholders, including manufacturers, contractors, condos and tradespeople.

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