RLI Corp. $RLI Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its position in RLI Corp. (NYSE:RLI) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 164,412 shares of the insurance provider’s stock after selling 24,007 shares during the period. Los Angeles Capital Management LLC owned approximately 0.18% of RLI worth $11,874,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Prospera Financial Services Inc grew its position in RLI by 0.7% in the 2nd quarter. Prospera Financial Services Inc now owns 151,387 shares of the insurance provider’s stock worth $10,933,000 after purchasing an additional 1,105 shares during the last quarter. AGF Management Ltd. raised its holdings in shares of RLI by 12.4% during the second quarter. AGF Management Ltd. now owns 39,948 shares of the insurance provider’s stock valued at $2,885,000 after buying an additional 4,419 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in shares of RLI by 96.5% during the first quarter. Summit Investment Advisors Inc. now owns 16,408 shares of the insurance provider’s stock worth $1,318,000 after buying an additional 8,056 shares during the period. Savant Capital LLC grew its holdings in RLI by 8.8% in the 2nd quarter. Savant Capital LLC now owns 17,255 shares of the insurance provider’s stock worth $1,246,000 after buying an additional 1,397 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in RLI in the 2nd quarter worth approximately $61,000. 77.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on RLI shares. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. Finally, Truist Financial set a $62.00 price target on RLI and gave the company a “hold” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, RLI currently has a consensus rating of “Hold” and an average price target of $72.80.

RLI Stock Up 2.4%

RLI opened at $62.11 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $5.70 billion, a PE ratio of 16.30 and a beta of 0.61. The stock’s fifty day moving average is $63.56 and its 200-day moving average is $68.67. RLI Corp. has a one year low of $57.75 and a one year high of $91.14.

RLI (NYSE:RLI) last released its earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The firm had revenue of $510.22 million for the quarter, compared to analyst estimates of $444.75 million. During the same period in the previous year, the company earned $1.31 earnings per share. On average, equities analysts predict that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. RLI’s payout ratio is currently 16.80%.

RLI Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.