RLI Corp. (NYSE:RLI) Shares Bought by Argent Capital Management LLC

Argent Capital Management LLC grew its stake in RLI Corp. (NYSE:RLI) by 13.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,533 shares of the insurance provider’s stock after purchasing an additional 989 shares during the quarter. Argent Capital Management LLC’s holdings in RLI were worth $1,322,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. UMB Bank n.a. boosted its holdings in shares of RLI by 620.0% in the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after buying an additional 155 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of RLI during the third quarter valued at approximately $32,000. American National Bank acquired a new position in shares of RLI in the second quarter worth $35,000. EverSource Wealth Advisors LLC lifted its holdings in shares of RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after buying an additional 77 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in RLI by 468.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 253 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

RLI Stock Down 0.0 %

NYSE:RLI traded down $0.02 during trading hours on Thursday, reaching $159.69. The company had a trading volume of 25,874 shares, compared to its average volume of 153,772. The firm has a market capitalization of $7.30 billion, a PE ratio of 22.06 and a beta of 0.41. The stock has a 50-day moving average of $154.43 and a two-hundred day moving average of $147.04. RLI Corp. has a one year low of $125.77 and a one year high of $164.25.

RLI (NYSE:RLI) last announced its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.33. The firm had revenue of $470.00 million during the quarter, compared to the consensus estimate of $491.54 million. RLI had a net margin of 20.78% and a return on equity of 18.33%. The firm’s quarterly revenue was up 41.7% on a year-over-year basis. During the same period last year, the firm posted $0.61 EPS. As a group, sell-side analysts expect that RLI Corp. will post 6.07 earnings per share for the current year.

RLI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.73%. RLI’s dividend payout ratio (DPR) is presently 16.02%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Royal Bank of Canada increased their price target on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a report on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Wolfe Research began coverage on shares of RLI in a report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price target for the company. Compass Point dropped their price objective on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, RLI presently has a consensus rating of “Moderate Buy” and an average price target of $174.40.

RLI Company 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.