RLI Corp. $RLI Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC grew its position in RLI Corp. (NYSE:RLI) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 463,383 shares of the insurance provider’s stock after purchasing an additional 8,924 shares during the quarter. ProShare Advisors LLC’s holdings in RLI were worth $25,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Compass Wealth Management LLC bought a new position in shares of RLI during the 3rd quarter worth $27,000. Farther Finance Advisors LLC raised its position in shares of RLI by 62.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 629 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 241 shares in the last quarter. Versant Capital Management Inc raised its holdings in RLI by 28.5% in the second quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 185 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in RLI during the second quarter valued at approximately $126,000. Finally, Nykredit A S acquired a new position in shares of RLI during the second quarter worth $179,000. Institutional investors own 77.89% of the company’s stock.

Analysts Set New Price Targets

RLI has been the subject of several analyst reports. UBS Group set a $74.00 price objective on RLI in a report on Tuesday, July 28th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 target price (up from $69.00) on shares of RLI in a research note on Wednesday, October 21st. Wall Street Zen upgraded RLI from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Wells Fargo & Company set a $53.00 target price on RLI and gave the company an “underweight” rating in a research report on Wednesday, October 21st. Finally, Jefferies Financial Group cut RLI from a “hold” rating to an “underperform” rating and set a $53.00 price target for the company. in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $62.40.

RLI Price Performance

Shares of RLI stock opened at $67.45 on Tuesday. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 15.72 and a beta of 0.36. The business has a fifty day moving average of $60.71 and a 200 day moving average of $58.73. RLI Corp. has a 1 year low of $47.26 and a 1 year high of $67.65.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, October 19th. The insurance provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.32. The business had revenue of $476.96 million for the quarter, compared to the consensus estimate of $533.51 million. RLI had a return on equity of 18.19% and a net margin of 20.34%. During the same quarter in the previous year, the business earned $0.83 EPS. As a group, equities research analysts expect that RLI Corp. will post 3.15 earnings per share for the current year.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. RLI’s payout ratio is 16.78%.

RLI Profile

RLI Corp. (NYSE: RLI) is a specialty insurance company that underwrites property and casualty insurance products for commercial and personal customers. The company focuses on specialized risks that may not be adequately served by standard insurance carriers.

RLI’s offerings include commercial property and casualty coverage, professional liability insurance, surety bonds, transportation-related insurance, and personal lines such as homeowners and personal umbrella coverage. Its products are distributed through independent agents, brokers, and other insurance intermediaries.

Founded in 1965 and headquartered in Peoria, Illinois, RLI serves customers primarily throughout the United States.