Donaldson Capital Management LLC Acquires New Stake in RLI Corp. (NYSE:RLI)

Donaldson Capital Management LLC acquired a new stake in RLI Corp. (NYSE:RLI - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 22,383 shares of the insurance provider's stock, valued at approximately $3,469,000.

A number of other hedge funds also recently modified their holdings of RLI. Van ECK Associates Corp lifted its holdings in RLI by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 27,293 shares of the insurance provider's stock worth $4,359,000 after purchasing an additional 7,798 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. increased its position in RLI by 1.2% during the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider's stock worth $892,000 after buying an additional 68 shares during the period. Motiv8 Investments LLC bought a new stake in shares of RLI in the third quarter valued at about $217,000. State of Alaska Department of Revenue grew its stake in shares of RLI by 7.8% in the third quarter. State of Alaska Department of Revenue now owns 6,820 shares of the insurance provider's stock valued at $1,056,000 after acquiring an additional 495 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of RLI by 0.9% in the third quarter. Louisiana State Employees Retirement System now owns 11,500 shares of the insurance provider's stock valued at $1,782,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RLI. Wolfe Research assumed coverage on shares of RLI in a report on Wednesday, October 9th. They issued an "outperform" rating and a $182.00 price objective for the company. Keefe, Bruyette & Woods increased their price target on RLI from $169.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a report on Tuesday, July 23rd. Royal Bank of Canada increased their target price on RLI from $162.00 to $165.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group boosted their price target on RLI from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $177.40.

RLI Stock Performance

Shares of RLI stock traded up $1.05 during trading on Monday, reaching $158.26. 168,200 shares of the company's stock were exchanged, compared to its average volume of 154,273. RLI Corp. has a 1-year low of $125.77 and a 1-year high of $164.25. The company has a market cap of $7.25 billion, a P/E ratio of 17.39 and a beta of 0.41. The firm's 50-day moving average price is $155.52 and its 200 day moving average price is $148.12.

RLI (NYSE:RLI - Get Free Report) last issued its earnings results on Monday, October 21st. The insurance provider reported $1.31 EPS for the quarter, topping the consensus estimate of $0.98 by $0.33. RLI had a return on equity of 19.03% and a net margin of 23.77%. The firm had revenue of $470.00 million during the quarter, compared to the consensus estimate of $491.54 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The business's quarterly revenue was up 41.7% on a year-over-year basis. As a group, equities research analysts predict that RLI Corp. will post 5.93 EPS for the current year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a $0.29 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 0.73%. RLI's dividend payout ratio is currently 12.75%.

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.