UBS Asset Management Americas Inc. Lowers Stake in RLI Corp. (RLI)

UBS Asset Management Americas Inc. decreased its stake in shares of RLI Corp. (NYSE:RLI) by 31.7% in the 4th quarter, HoldingsChannel reports. The fund owned 30,155 shares of the insurance provider’s stock after selling 14,015 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in RLI were worth $1,829,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RLI. Aperio Group LLC grew its position in RLI by 8.9% in the third quarter. Aperio Group LLC now owns 14,867 shares of the insurance provider’s stock valued at $853,000 after purchasing an additional 1,210 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in RLI in the third quarter valued at $466,000. BNP Paribas Arbitrage SA grew its position in RLI by 52.7% in the third quarter. BNP Paribas Arbitrage SA now owns 20,063 shares of the insurance provider’s stock valued at $1,151,000 after purchasing an additional 6,927 shares in the last quarter. Sei Investments Co. grew its position in RLI by 12.5% in the third quarter. Sei Investments Co. now owns 26,182 shares of the insurance provider’s stock valued at $1,502,000 after purchasing an additional 2,912 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in RLI by 61.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 14,590 shares of the insurance provider’s stock valued at $837,000 after purchasing an additional 5,560 shares in the last quarter. 87.03% of the stock is owned by institutional investors and hedge funds.

RLI Corp. (RLI) opened at $64.26 on Tuesday. RLI Corp. has a 12-month low of $50.34 and a 12-month high of $65.68. The company has a market cap of $2,828.13, a PE ratio of 39.96 and a beta of 1.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35.

RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, January 24th. The insurance provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. RLI had a net margin of 13.17% and a return on equity of 8.21%. The company had revenue of $202.74 million during the quarter, compared to the consensus estimate of $197.85 million. sell-side analysts expect that RLI Corp. will post 2.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Wednesday, February 28th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Tuesday, February 27th. RLI’s dividend payout ratio (DPR) is presently 35.44%.

A number of research analysts recently weighed in on RLI shares. Zacks Investment Research raised shares of RLI from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Monday, January 8th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $55.00 price objective on shares of RLI in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.67.

In other news, Director Michael J. Stone sold 5,000 shares of RLI stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $65.36, for a total value of $326,800.00. Following the completion of the transaction, the director now owns 9,000 shares of the company’s stock, valued at approximately $588,240. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Stone sold 1,141 shares of RLI stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $59.40, for a total transaction of $67,775.40. The disclosure for this sale can be found here. In the last three months, insiders sold 7,041 shares of company stock valued at $452,868. Insiders own 6.09% of the company’s stock.

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RLI 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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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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