Vaughan David Investments Incil buys $28.2 Million stake in RLI Corp. (RLI)

RLI Corp. (RLI) : Vaughan David Investments Incil scooped up 103,633 additional shares in RLI Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 423,718 shares of RLI Corp. which is valued at $28.2 Million.RLI Corp. makes up approximately 1.60% of Vaughan David Investments Incil’s portfolio.

Other Hedge Funds, Including , Raymond James Associates reduced its stake in RLI by selling 11,248 shares or 23.21% in the most recent quarter. The Hedge Fund company now holds 37,212 shares of RLI which is valued at $2.5 Million. RLI Corp. makes up approx 0.01% of Raymond James Associates’s portfolio.Ls Investment Advisors boosted its stake in RLI in the latest quarter, The investment management firm added 61 additional shares and now holds a total of 1,298 shares of RLI Corp. which is valued at $86,395. RLI Corp. makes up approx 0.01% of Ls Investment Advisors’s portfolio.Bbva Compass Bancshares Inc boosted its stake in RLI in the latest quarter, The investment management firm added 140 additional shares and now holds a total of 35,491 shares of RLI Corp. which is valued at $2.3 Million. RLI Corp. makes up approx 0.17% of Bbva Compass Bancshares Inc’s portfolio. Commonwealth Equity Services Inc added RLI to its portfolio by purchasing 3,009 company shares during the most recent quarter which is valued at $187,100.

RLI Corp. opened for trading at $65.28 and hit $65.9899 on the upside on Friday, eventually ending the session at $65.25, with a gain of 0.45% or 0.29 points. The heightened volatility saw the trading volume jump to 2,08,876 shares. Company has a market cap of $2,850 M.

On the company’s financial health, RLI Corp. reported $0.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.48. The company had revenue of $201.70 million for the quarter, compared to analysts expectations of $194.04 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Investors should note that on May 5, 2016, RLI Corp. announced a cash dividend of $0.2000. The company’s management has announced May 26, 2016 as the ex-dividend date and fixed the record date on May 31, 2016. The payable date has been fixed on Jun 20, 2016.

RLI Corp. underwrites selected property and casualty insurance through major subsidiaries collectively known as RLI Insurance Group. The Company conducts operations through four insurance companies. These companies are organized in a vertical structure beneath RLI Corp. with RLI Insurance Company (RLI Ins.) as the principal insurance subsidiary. RLI Ins. writes multiple lines of insurance on an admitted basis. Mt. Hawley Insurance Company (Mt. Hawley) a subsidiary of RLI Ins. writes excess and surplus lines insurance on an admitted basis. RLI Indemnity Company (RIC) a subsidiary of Mt. Hawley has authority to write multiple lines of insurance on an admitted basis in 48 states and the District of Columbia. Contractors Bonding and Insurance Company a subsidiary of RLI Ins. has authority to write multiple lines of insurance on an admitted basis in all 50 states and the District of Columbia. The segments of the Company’s insurance operations are casualty property and surety.

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