Russell Investments Group Ltd. Boosts Position in RLI Corp. (RLI)
Russell Investments Group Ltd. boosted its stake in RLI Corp. (NYSE:RLI) by 17.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,074 shares of the insurance provider’s stock after acquiring an additional 1,474 shares during the quarter. Russell Investments Group Ltd.’s holdings in RLI Corp. were worth $550,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Whittier Trust Co. lifted its position in RLI Corp. by 2.5% in the 2nd quarter. Whittier Trust Co. now owns 32,532 shares of the insurance provider’s stock valued at $1,777,000 after acquiring an additional 806 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in RLI Corp. by 23.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 834,074 shares of the insurance provider’s stock valued at $45,557,000 after acquiring an additional 158,744 shares in the last quarter. Aperio Group LLC lifted its position in RLI Corp. by 21.9% in the 2nd quarter. Aperio Group LLC now owns 13,657 shares of the insurance provider’s stock valued at $746,000 after acquiring an additional 2,453 shares in the last quarter. State of Alaska Department of Revenue lifted its position in RLI Corp. by 78.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,550 shares of the insurance provider’s stock valued at $412,000 after acquiring an additional 3,310 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. lifted its position in RLI Corp. by 15.8% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 11,110 shares of the insurance provider’s stock valued at $607,000 after acquiring an additional 1,515 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of RLI Corp. (NYSE:RLI) traded up 0.88% during midday trading on Tuesday, reaching $54.06. 28,199 shares of the company’s stock traded hands. The stock has a 50 day moving average of $54.51 and a 200-day moving average of $56.04. The stock has a market cap of $2.38 billion, a P/E ratio of 23.92 and a beta of 1.24. RLI Corp. has a 12 month low of $50.34 and a 12 month high of $69.51.
RLI Corp. (NYSE:RLI) last issued its quarterly earnings data on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. RLI Corp. had a net margin of 12.38% and a return on equity of 10.10%. The firm had revenue of $196.20 million for the quarter, compared to analysts’ expectations of $198.09 million. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts forecast that RLI Corp. will post $2.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Thursday, August 31st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, August 29th. RLI Corp.’s dividend payout ratio (DPR) is presently 37.17%.
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Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Monday, July 24th. FBR & Co reaffirmed a “hold” rating on shares of RLI Corp. in a research report on Friday, July 21st. ValuEngine raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut shares of RLI Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Keefe, Bruyette & Woods set a $51.00 price objective on shares of RLI Corp. and gave the company a “hold” rating in a research report on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $47.00.
In other news, Director Robert P. Restrepo, Jr. bought 1,200 shares of RLI Corp. stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average cost of $57.58 per share, with a total value of $69,096.00. Following the acquisition, the director now owns 7,000 shares of the company’s stock, valued at approximately $403,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Stone sold 947 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $54.76, for a total transaction of $51,857.72. The disclosure for this sale can be found here. 6.09% of the stock is owned by corporate insiders.
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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