Personal Capital Advisors Corp raised its position in RLI Corp. (NYSE:RLI) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,348 shares of the insurance provider’s stock after purchasing an additional 2,079 shares during the quarter. Personal Capital Advisors Corp owned 0.11% of RLI Corp. worth $2,831,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Jennison Associates LLC increased its stake in shares of RLI Corp. by 0.4% in the second quarter. Jennison Associates LLC now owns 19,597 shares of the insurance provider’s stock valued at $1,070,000 after buying an additional 77 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of RLI Corp. by 0.3% in the first quarter. Public Employees Retirement System of Ohio now owns 32,402 shares of the insurance provider’s stock valued at $1,945,000 after buying an additional 89 shares during the period. Stifel Financial Corp increased its stake in shares of RLI Corp. by 0.4% in the second quarter. Stifel Financial Corp now owns 20,371 shares of the insurance provider’s stock valued at $1,118,000 after buying an additional 91 shares during the period. Arizona State Retirement System increased its stake in shares of RLI Corp. by 0.5% in the second quarter. Arizona State Retirement System now owns 19,994 shares of the insurance provider’s stock valued at $1,092,000 after buying an additional 100 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of RLI Corp. by 0.7% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,180 shares of the insurance provider’s stock valued at $829,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 83.15% of the company’s stock.
In other RLI Corp. news, Director Michael J. Stone sold 991 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $57.40, for a total value of $56,883.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael E. Angelina acquired 1,000 shares of RLI Corp. stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average cost of $54.41 per share, with a total value of $54,410.00. The disclosure for this purchase can be found here. Company insiders own 6.09% of the company’s stock.
Several equities research analysts have recently weighed in on RLI shares. Zacks Investment Research cut RLI Corp. from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Keefe, Bruyette & Woods set a $51.00 price target on RLI Corp. and gave the company a “hold” rating in a research note on Wednesday, October 18th. BidaskClub cut RLI Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Royal Bank of Canada reissued an “underperform” rating and issued a $51.00 price target (up previously from $50.00) on shares of RLI Corp. in a research note on Friday, October 20th. Finally, B. Riley reaffirmed a “neutral” rating on shares of RLI Corp. in a research note on Monday, November 6th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. RLI Corp. presently has an average rating of “Hold” and an average target price of $46.75.
RLI Corp. (RLI) traded up $0.31 during midday trading on Friday, reaching $59.33. The company had a trading volume of 101,700 shares, compared to its average volume of 157,767. RLI Corp. has a fifty-two week low of $50.34 and a fifty-two week high of $64.66. The firm has a market capitalization of $2,630.00, a PE ratio of 35.77 and a beta of 1.29. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17.
RLI Corp. (NYSE:RLI) last released its earnings results on Wednesday, October 18th. The insurance provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.44). RLI Corp. had a return on equity of 8.53% and a net margin of 9.97%. The business had revenue of $196.20 million for the quarter, compared to analyst estimates of $195.89 million. During the same period in the prior year, the business earned $0.37 EPS. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. sell-side analysts predict that RLI Corp. will post 1.55 earnings per share for the current year.
The firm also recently announced a special dividend, which will be paid on Wednesday, December 27th. Investors of record on Thursday, November 30th will be paid a dividend of $1.75 per share. The ex-dividend date is Wednesday, November 29th. This represents a yield of 1.42%. RLI Corp.’s dividend payout ratio is currently 46.67%.
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RLI Corp. Profile
RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.
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