RLI Corp. (NYSE:RLI) Shares Bought by Teachers Advisors LLC
Teachers Advisors LLC boosted its stake in RLI Corp. (NYSE:RLI) by 3.1% during the first quarter, Holdings Channel reports. The firm owned 73,510 shares of the insurance provider’s stock after buying an additional 2,177 shares during the period. Teachers Advisors LLC’s holdings in RLI Corp. were worth $4,412,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of RLI Corp. during the fourth quarter valued at about $22,277,000. American Century Companies Inc. boosted its position in shares of RLI Corp. by 59.8% in the first quarter. American Century Companies Inc. now owns 393,863 shares of the insurance provider’s stock valued at $23,640,000 after buying an additional 147,314 shares during the period. Neuberger Berman Group LLC boosted its position in shares of RLI Corp. by 5.0% in the first quarter. Neuberger Berman Group LLC now owns 2,421,994 shares of the insurance provider’s stock valued at $145,368,000 after buying an additional 116,398 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of RLI Corp. by 4.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,598,291 shares of the insurance provider’s stock valued at $95,930,000 after buying an additional 67,593 shares during the period. Finally, Personal Capital Advisors Corp boosted its position in shares of RLI Corp. by 10.0% in the first quarter. Personal Capital Advisors Corp now owns 253,881 shares of the insurance provider’s stock valued at $14,717,000 after buying an additional 23,146 shares during the period. 81.10% of the stock is currently owned by institutional investors.
Shares of RLI Corp. (NYSE:RLI) opened at 57.24 on Monday. RLI Corp. has a 12-month low of $52.51 and a 12-month high of $71.46. The firm’s 50-day moving average price is $55.68 and its 200-day moving average price is $57.25. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 25.33 and a beta of 1.21.
RLI Corp. (NYSE:RLI) last announced its quarterly earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.09. The firm had revenue of $196.20 million for the quarter, compared to analyst estimates of $198.09 million. RLI Corp. had a net margin of 12.38% and a return on equity of 10.10%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. On average, analysts forecast that RLI Corp. will post $2.01 EPS for the current fiscal year.
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Several research analysts recently issued reports on RLI shares. FBR & Co reissued a “hold” rating on shares of RLI Corp. in a research note on Friday, July 21st. Royal Bank Of Canada reissued a “sell” rating and issued a $50.00 price objective on shares of RLI Corp. in a research note on Monday, May 22nd. Zacks Investment Research raised RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Monday, July 24th. Keefe, Bruyette & Woods set a $51.00 price objective on RLI Corp. and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Finally, ValuEngine raised RLI Corp. from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. RLI Corp. has a consensus rating of “Hold” and an average target price of $47.00.
In other news, Director Michael J. Stone sold 947 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $54.76, for a total value of $51,857.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael J. Stone sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $55.25, for a total transaction of $276,250.00. The disclosure for this sale can be found here. Insiders sold a total of 8,947 shares of company stock worth $501,958 in the last three months. Insiders own 6.09% of the company’s stock.
About RLI Corp.
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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