RLI Corp. (RLI) Position Boosted by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. increased its position in RLI Corp. (NYSE:RLI) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,180 shares of the insurance provider’s stock after acquiring an additional 100 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in RLI Corp. were worth $829,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meadow Creek Investment Management LLC raised its holdings in RLI Corp. by 1.3% in the 1st quarter. Meadow Creek Investment Management LLC now owns 1,716 shares of the insurance provider’s stock worth $103,000 after acquiring an additional 22 shares during the last quarter. Bank of Montreal Can raised its holdings in RLI Corp. by 1.7% in the 1st quarter. Bank of Montreal Can now owns 2,410 shares of the insurance provider’s stock worth $144,000 after acquiring an additional 40 shares during the last quarter. Quantbot Technologies LP purchased a new position in RLI Corp. in the 1st quarter worth approximately $175,000. Tudor Investment Corp ET AL purchased a new position in RLI Corp. in the 1st quarter worth approximately $203,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in RLI Corp. by 18.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,085 shares of the insurance provider’s stock worth $245,000 after acquiring an additional 627 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.
Shares of RLI Corp. (NYSE RLI) opened at 54.96 on Friday. The firm has a 50-day moving average of $54.39 and a 200-day moving average of $56.02. The company has a market cap of $2.42 billion, a P/E ratio of 24.32 and a beta of 1.24. RLI Corp. has a 52-week low of $50.34 and a 52-week high of $69.51.
RLI Corp. (NYSE:RLI) last posted its quarterly earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.09. The business had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $198.09 million. RLI Corp. had a net margin of 12.38% and a return on equity of 10.10%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company posted $0.61 earnings per share. Equities research analysts forecast that RLI Corp. will post $2.02 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Thursday, August 31st were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.53%. RLI Corp.’s dividend payout ratio is currently 37.17%.
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A number of equities research analysts have commented on RLI shares. FBR & Co reaffirmed a “hold” rating on shares of RLI Corp. in a research report on Friday, July 21st. Zacks Investment Research raised shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Monday, July 24th. ValuEngine raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded shares of RLI Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. RLI Corp. has an average rating of “Hold” and a consensus price target of $47.00.
In related news, Director Robert P. Restrepo, Jr. purchased 1,200 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was acquired at an average price of $57.58 per share, with a total value of $69,096.00. Following the completion of the acquisition, the director now owns 7,000 shares in the company, valued at approximately $403,060. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael E. Angelina purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was bought 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.
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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