RLI Corp. (RLI) Shares Bought by Aperio Group LLC
Aperio Group LLC increased its stake in RLI Corp. (NYSE:RLI) by 8.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,867 shares of the insurance provider’s stock after buying an additional 1,210 shares during the period. Aperio Group LLC’s holdings in RLI Corp. were worth $853,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Personal Capital Advisors Corp increased its stake in shares of RLI Corp. by 4.4% in the third quarter. Personal Capital Advisors Corp now owns 49,348 shares of the insurance provider’s stock worth $2,831,000 after buying an additional 2,079 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of RLI Corp. in the third quarter worth $5,525,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of RLI Corp. in the second quarter worth $388,000. Public Employees Retirement System of Ohio increased its stake in shares of RLI Corp. by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 32,638 shares of the insurance provider’s stock worth $1,783,000 after buying an additional 236 shares during the last quarter. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of RLI Corp. in the second quarter worth $452,000. Institutional investors and hedge funds own 84.59% of the company’s stock.
A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Monday, July 24th. Royal Bank Of Canada restated 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. B. Riley restated a “neutral” rating on shares of RLI Corp. in a research note on Monday, November 6th. BidaskClub lowered shares of RLI Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Keefe, Bruyette & Woods set a $51.00 target price on shares of RLI Corp. and gave the company a “hold” rating in a research note on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $46.75.
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In other news, Director Michael J. Stone sold 991 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $57.40, for a total transaction of $56,883.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert P. Restrepo, Jr. purchased 1,026 shares of RLI Corp. stock in a transaction dated Monday, November 13th. The shares were purchased at an average cost of $59.30 per share, with a total value of $60,841.80. Following the acquisition, the director now owns 8,026 shares of the company’s stock, valued at approximately $475,941.80. The disclosure for this purchase can be found here. 6.09% of the stock is owned by insiders.
Shares of RLI Corp. (NYSE:RLI) opened at $59.24 on Tuesday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. RLI Corp. has a 12 month low of $50.34 and a 12 month high of $64.66. The firm has a market cap of $2,605.70, a price-to-earnings ratio of 35.84 and a beta of 1.27.
RLI Corp. (NYSE:RLI) last released its earnings results on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.44). RLI Corp. had a net margin of 9.97% and a return on equity of 8.53%. The business had revenue of $196.20 million for the quarter, compared to the consensus estimate of $195.89 million. During the same quarter in the previous year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. equities research analysts forecast that RLI Corp. will post 1.55 EPS for the current year.
The firm also recently announced a special dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Thursday, November 30th will be paid a dividend of $1.75 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a yield of 1.42%. RLI Corp.’s payout ratio is 46.67%.
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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