6,987 Shares in RLI Corp. $RLI Bought by SG Americas Securities LLC

SG Americas Securities LLC bought a new stake in RLI Corp. (NYSE:RLI) during the 2nd quarter, HoldingsChannel reports. The firm bought 6,987 shares of the insurance provider’s stock, valued at approximately $505,000.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of RLI by 95.2% in the 1st quarter. Vanguard Group Inc. now owns 8,996,643 shares of the insurance provider’s stock worth $722,700,000 after acquiring an additional 4,388,400 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in RLI by 117.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,226,797 shares of the insurance provider’s stock worth $419,869,000 after purchasing an additional 2,817,616 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in RLI by 106.6% in the first quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider’s stock valued at $220,967,000 after buying an additional 1,419,212 shares during the period. Dimensional Fund Advisors LP lifted its stake in RLI by 97.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider’s stock valued at $149,569,000 after buying an additional 920,799 shares during the period. Finally, Maren Capital LLC boosted its holdings in shares of RLI by 121.5% during the 1st quarter. Maren Capital LLC now owns 1,552,053 shares of the insurance provider’s stock worth $124,676,000 after buying an additional 851,450 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial set a $62.00 price objective on shares of RLI and gave the company a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of RLI in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, RLI presently has a consensus rating of “Hold” and an average price target of $72.80.

RLI Price Performance

Shares of RLI opened at $63.98 on Thursday. RLI Corp. has a 12-month low of $57.75 and a 12-month high of $91.14. The business’s fifty day moving average is $62.63 and its 200 day moving average is $67.72. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.88 billion, a P/E ratio of 16.79 and a beta of 0.61.

RLI (NYSE:RLI) last announced its quarterly earnings results on Monday, October 20th. The insurance provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.21. RLI had a net margin of 19.02% and a return on equity of 16.51%. The business had revenue of $509.26 million during the quarter, compared to analyst estimates of $444.75 million. During the same quarter in the previous year, the business posted $1.31 EPS. Sell-side analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, November 28th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, November 28th. RLI’s dividend payout ratio is currently 16.80%.

RLI Company 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.