RLI Corp. (RLI) Shares Bought by Vaughan David Investments Inc. IL
Vaughan David Investments Inc. IL lifted its position in RLI Corp. (NYSE:RLI) by 31.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 351,089 shares of the insurance provider’s stock after purchasing an additional 83,076 shares during the quarter. Vaughan David Investments Inc. IL owned about 0.80% of RLI Corp. worth $21,957,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in RLI. Flinton Capital Management LLC raised its stake in shares of RLI Corp. by 60.3% in the second quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock worth $109,000 after purchasing an additional 752 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in RLI Corp. by 64.0% during the second quarter. Riverhead Capital Management LLC now owns 2,296 shares of the insurance provider’s stock worth $125,000 after acquiring an additional 896 shares during the period. Bank of Montreal Can grew its holdings in RLI Corp. by 5.8% during the second quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock worth $138,000 after acquiring an additional 139 shares during the period. Tudor Investment Corp ET AL acquired a new stake in RLI Corp. during the first quarter worth about $203,000. Finally, Shelton Capital Management acquired a new stake in RLI Corp. during the second quarter worth about $208,000. Hedge funds and other institutional investors own 83.49% of the company’s stock.
In other RLI Corp. news, Director Michael J. Stone sold 991 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $57.40, for a total value of $56,883.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael E. Angelina acquired 1,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average cost of $54.41 per share, for a total transaction of $54,410.00. The disclosure for this purchase can be found here. 6.09% of the stock is currently owned by company insiders.
Shares of RLI Corp. (NYSE:RLI) traded down $0.02 on Friday, reaching $59.42. The company’s stock had a trading volume of 115,100 shares, compared to its average volume of 158,010. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. RLI Corp. has a one year low of $50.34 and a one year high of $64.66. The firm has a market capitalization of $2,610.00, a price-to-earnings ratio of 36.02 and a beta of 1.29.
RLI Corp. (NYSE:RLI) last issued its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.44). RLI Corp. had a net margin of 9.97% and a return on equity of 8.53%. The business had revenue of $196.20 million during the quarter, compared to analyst estimates of $195.89 million. During the same period in the previous year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. analysts anticipate that RLI Corp. will post 1.55 earnings per share for the current fiscal year.
The firm also recently disclosed a special dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Thursday, November 30th will be issued a $1.75 dividend. This represents a yield of 1.42%. The ex-dividend date is Wednesday, November 29th. RLI Corp.’s payout ratio is currently 46.67%.
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Several research firms recently commented on RLI. B. Riley reaffirmed a “neutral” rating on shares of RLI Corp. in a report on Monday, November 6th. Royal Bank Of Canada reaffirmed an “underperform” rating and set a $51.00 target price (up from $50.00) on shares of RLI Corp. in a report on Friday, October 20th. Keefe, Bruyette & Woods set a $51.00 target price on RLI Corp. and gave the stock a “hold” rating in a report on Wednesday, October 18th. Zacks Investment Research lowered RLI Corp. from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Finally, BidaskClub lowered RLI Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $46.75.
RLI Corp. Company Profile
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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