Vaughan David Investments LLC IL Has $17.99 Million Stock Position in RLI Corp. (NYSE:RLI)

Vaughan David Investments LLC IL lowered its position in shares of RLI Corp. (NYSE:RLIGet Rating) by 54.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 160,434 shares of the insurance provider’s stock after selling 189,450 shares during the quarter. Vaughan David Investments LLC IL owned about 0.35% of RLI worth $17,985,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in shares of RLI by 129.8% during the fourth quarter. Citigroup Inc. now owns 15,149 shares of the insurance provider’s stock worth $1,698,000 after buying an additional 8,557 shares in the last quarter. Teacher Retirement System of Texas raised its stake in RLI by 20.2% in the fourth quarter. Teacher Retirement System of Texas now owns 7,875 shares of the insurance provider’s stock valued at $883,000 after purchasing an additional 1,323 shares in the last quarter. WINTON GROUP Ltd raised its stake in RLI by 217.0% in the fourth quarter. WINTON GROUP Ltd now owns 11,615 shares of the insurance provider’s stock valued at $1,302,000 after purchasing an additional 7,951 shares in the last quarter. Palisade Capital Management LLC NJ raised its stake in RLI by 1.1% in the fourth quarter. Palisade Capital Management LLC NJ now owns 354,959 shares of the insurance provider’s stock valued at $39,791,000 after purchasing an additional 3,822 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in RLI by 0.7% in the fourth quarter. HighTower Advisors LLC now owns 23,652 shares of the insurance provider’s stock valued at $2,647,000 after purchasing an additional 172 shares in the last quarter. 80.16% of the stock is owned by institutional investors.

A number of research firms recently commented on RLI. Royal Bank of Canada boosted their price target on RLI from $112.00 to $123.00 and gave the company a “sector perform” rating in a research note on Friday, April 22nd. Compass Point raised RLI from a “neutral” rating to a “buy” rating and set a $117.00 price target for the company in a research note on Tuesday, February 22nd. StockNews.com assumed coverage on RLI in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, B. Riley lowered their target price on RLI from $130.00 to $125.00 in a research note on Wednesday, January 26th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $120.60.

NYSE RLI traded down $0.76 during trading on Friday, hitting $116.73. 175,971 shares of the company’s stock were exchanged, compared to its average volume of 184,078. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.17. The company has a market cap of $5.29 billion, a PE ratio of 20.99 and a beta of 0.40. RLI Corp. has a fifty-two week low of $96.22 and a fifty-two week high of $119.74. The stock’s 50 day moving average price is $111.47 and its two-hundred day moving average price is $108.76.

RLI (NYSE:RLIGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The insurance provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.45. The company had revenue of $264.81 million for the quarter, compared to analysts’ expectations of $283.93 million. RLI had a return on equity of 16.65% and a net margin of 21.98%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 earnings per share. Analysts forecast that RLI Corp. will post 4.35 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 21st. Stockholders of record on Tuesday, May 31st will be issued a dividend of $0.26 per share. This is a boost from RLI’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, May 27th. RLI’s payout ratio is 17.99%.

RLI Company Profile (Get Rating)

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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