Parametric Portfolio Associates LLC boosted its holdings in RLI Corp. (NYSE:RLI) by 13.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,136 shares of the insurance provider’s stock after buying an additional 11,981 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.22% of RLI Corp. worth $5,360,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Municipal Employees Retirement System of Michigan raised its holdings in RLI Corp. by 0.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,730 shares of the insurance provider’s stock worth $524,000 after purchasing an additional 60 shares during the last quarter. Jennison Associates LLC raised its holdings in RLI Corp. by 0.4% during the 2nd quarter. Jennison Associates LLC now owns 19,597 shares of the insurance provider’s stock worth $1,070,000 after purchasing an additional 77 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in RLI Corp. by 0.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 32,402 shares of the insurance provider’s stock worth $1,945,000 after purchasing an additional 89 shares during the last quarter. Arizona State Retirement System raised its holdings in RLI Corp. by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 19,994 shares of the insurance provider’s stock worth $1,092,000 after purchasing an additional 100 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its holdings in RLI Corp. by 0.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,180 shares of the insurance provider’s stock worth $829,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 82.94% of the company’s stock.

In related news, Director Michael J. Stone sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $57.95, for a total transaction of $173,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael E. Angelina bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were acquired at an average price of $54.41 per share, with a total value of $54,410.00. The disclosure for this purchase can be found here. Corporate insiders own 6.09% of the company’s stock.

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RLI Corp. (RLI) opened at 57.83 on Tuesday. The firm’s 50-day moving average is $55.98 and its 200 day moving average is $55.81. RLI Corp. has a 12-month low of $50.34 and a 12-month high of $64.66. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 25.59 and a beta of 1.24.

RLI Corp. (NYSE:RLI) last released its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.44). The company had revenue of $196.20 million for the quarter, compared to analysts’ expectations of $195.89 million. RLI Corp. had a net margin of 9.97% and a return on equity of 8.53%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS. On average, equities analysts expect that RLI Corp. will post $1.55 earnings per share for the current fiscal year.

Several research analysts have 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 report on Monday, July 24th. FBR & Co restated a “hold” rating on shares of RLI Corp. in a report on Friday, July 21st. Royal Bank Of Canada restated an “underperform” rating and set a $51.00 price target (up previously from $50.00) on shares of RLI Corp. in a report on Friday. Keefe, Bruyette & Woods set a $51.00 price target on shares of RLI Corp. and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, BidaskClub lowered shares of RLI Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $46.75.

About RLI Corp.

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 Corp. (NYSE:RLI)

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