Quantbot Technologies LP Buys 29,342 Shares of RLI Corp. $RLI

Quantbot Technologies LP boosted its stake in RLI Corp. (NYSE:RLI) by 203.5% during the second quarter, Holdings Channel reports. The institutional investor owned 43,762 shares of the insurance provider’s stock after buying an additional 29,342 shares during the period. Quantbot Technologies LP’s holdings in RLI were worth $3,160,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RLI. Lido Advisors LLC bought a new stake in shares of RLI during the second quarter worth approximately $753,000. Norges Bank acquired a new stake in RLI during the 2nd quarter worth approximately $74,533,000. Hsbc Holdings PLC boosted its stake in RLI by 222.1% in the 2nd quarter. Hsbc Holdings PLC now owns 36,461 shares of the insurance provider’s stock valued at $2,613,000 after purchasing an additional 25,140 shares during the period. Capital Fund Management S.A. acquired a new position in RLI in the 2nd quarter valued at $965,000. Finally, Quadrant Capital Group LLC increased its position in RLI by 150.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 9,757 shares of the insurance provider’s stock worth $705,000 after buying an additional 5,867 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RLI has been the subject of a number of recent research reports. Truist Financial set a $62.00 target price on shares of RLI and gave the company a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, RLI presently has a consensus rating of “Hold” and an average target price of $72.80.

RLI Stock Performance

NYSE:RLI opened at $63.13 on Friday. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 16.57 and a beta of 0.56. RLI Corp. has a fifty-two week low of $57.75 and a fifty-two week high of $86.86. 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 stock has a fifty day moving average price of $62.36 and a 200-day moving average price of $67.26.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, October 20th. The insurance provider reported $0.83 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 company had revenue of $509.26 million for the quarter, compared to analysts’ expectations of $444.75 million. During the same quarter last year, the business earned $1.31 earnings per share. As a group, equities analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

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