Duncker Streett & Co. Inc. Makes New Investment in RLI Corp. (NYSE:RLI)

Duncker Streett & Co. Inc. bought a new position in RLI Corp. (NYSE:RLI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 954 shares of the insurance provider’s stock, valued at approximately $127,000.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. purchased a new stake in RLI during the fourth quarter valued at approximately $25,000. Eagle Bay Advisors LLC acquired a new stake in shares of RLI in the second quarter worth $25,000. Compass Wealth Management LLC acquired a new stake in RLI during the fourth quarter valued at $32,000. Gladius Capital Management LP grew its position in RLI by 129.7% during the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock valued at $37,000 after buying an additional 153 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in RLI during the third quarter valued at $60,000. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Performance

RLI opened at $135.70 on Thursday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 20.50 and a beta of 0.37. RLI Corp. has a 52-week low of $123.04 and a 52-week high of $149.65. The firm’s fifty day simple moving average is $144.44 and its two-hundred day simple moving average is $138.68.

RLI (NYSE:RLI) last posted its quarterly earnings results on Tuesday, January 23rd. The insurance provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.10. The firm had revenue of $433.52 million for the quarter, compared to the consensus estimate of $423.12 million. RLI had a net margin of 20.15% and a return on equity of 17.02%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the firm posted $1.53 earnings per share. Equities analysts anticipate that RLI Corp. will post 5.56 earnings per share for the current fiscal year.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Wednesday, February 28th. RLI’s dividend payout ratio is currently 16.31%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price target on shares of RLI in a research report on Friday, January 26th. Keefe, Bruyette & Woods raised their price target on shares of RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th.

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.