RLI Corp. (RLI) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. grew its position in shares of RLI Corp. (NYSE:RLI) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 420,937 shares of the insurance provider’s stock after purchasing an additional 6,703 shares during the quarter. Victory Capital Management Inc. owned 0.96% of RLI Corp. worth $24,145,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC increased its position in shares of RLI Corp. by 0.4% during the 2nd quarter. Jennison Associates LLC now owns 19,597 shares of the insurance provider’s stock valued at $1,070,000 after purchasing an additional 77 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of 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 valued at $1,945,000 after purchasing an additional 89 shares during the period. Stifel Financial Corp increased its position in shares of RLI Corp. by 0.4% during the 2nd quarter. Stifel Financial Corp now owns 20,371 shares of the insurance provider’s stock valued at $1,118,000 after purchasing an additional 91 shares during the period. Arizona State Retirement System increased its position in shares of RLI Corp. by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 19,994 shares of the insurance provider’s stock valued at $1,092,000 after purchasing an additional 100 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of 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 valued at $829,000 after purchasing an additional 100 shares during the period. Institutional investors own 83.15% of the company’s stock.
In other RLI Corp. news, Director Michael E. Angelina bought 1,000 shares of RLI Corp. stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average cost of $54.41 per share, with a total value of $54,410.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael J. Stone sold 991 shares of the business’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 disclosure for this sale can be found here. 6.09% of the stock is owned by insiders.
RLI Corp. (NYSE:RLI) opened at $59.33 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market capitalization of $2,600.41, a PE ratio of 35.77 and a beta of 1.27. RLI Corp. has a 12 month low of $50.34 and a 12 month high of $64.66.
RLI Corp. (NYSE:RLI) last released its earnings results 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 firm had revenue of $196.20 million for the quarter, compared to analyst estimates of $195.89 million. RLI Corp. had a return on equity of 8.53% and a net margin of 9.97%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.37 earnings per share. research analysts predict that RLI Corp. will post 1.55 EPS for the current fiscal year.
The firm also recently announced a special dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Thursday, November 30th will be issued a $1.75 dividend. This represents a dividend yield of 1.42%. The ex-dividend date is Wednesday, November 29th. RLI Corp.’s payout ratio is currently 46.67%.
Several brokerages have recently issued reports on RLI. FBR & Co reiterated a “hold” rating on shares of RLI Corp. in a research report on Friday, July 21st. B. Riley reiterated a “neutral” rating on shares of RLI Corp. in a research report on Monday, November 6th. Zacks Investment Research upgraded RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Monday, July 24th. Royal Bank Of Canada reissued an “underperform” rating and set a $51.00 price objective (up from $50.00) on shares of RLI Corp. in a research note on Friday, October 20th. Finally, BidaskClub lowered RLI Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. RLI Corp. presently has an average rating of “Hold” and a consensus price target 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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