RLI Corp. $RLI Shares Sold by Laurus Global Equity Management Inc.

Laurus Global Equity Management Inc. trimmed its position in RLI Corp. (NYSE:RLI) by 21.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,150 shares of the insurance provider’s stock after selling 4,410 shares during the period. Laurus Global Equity Management Inc.’s holdings in RLI were worth $1,166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Illinois Municipal Retirement Fund increased its holdings in shares of RLI by 100.0% in the first quarter. Illinois Municipal Retirement Fund now owns 19,526 shares of the insurance provider’s stock valued at $1,569,000 after buying an additional 9,763 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of RLI by 99.6% in the 1st quarter. New York State Teachers Retirement System now owns 112,616 shares of the insurance provider’s stock valued at $9,046,000 after purchasing an additional 56,208 shares during the period. Hsbc Holdings PLC raised its holdings in RLI by 255.2% during the 1st quarter. Hsbc Holdings PLC now owns 11,321 shares of the insurance provider’s stock worth $909,000 after buying an additional 8,134 shares during the period. Empower Advisory Group LLC lifted its stake in RLI by 105.5% during the first quarter. Empower Advisory Group LLC now owns 253,074 shares of the insurance provider’s stock valued at $20,329,000 after buying an additional 129,901 shares in the last quarter. Finally, Alaska Permanent Fund Corp boosted its holdings in shares of RLI by 100.0% in the first quarter. Alaska Permanent Fund Corp now owns 41,476 shares of the insurance provider’s stock worth $3,070,000 after buying an additional 20,738 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RLI

In related news, COO Jennifer L. Klobnak acquired 3,000 shares of the stock in a transaction dated Thursday, July 24th. The shares were acquired at an average price of $69.15 per share, with a total value of $207,450.00. Following the acquisition, the chief operating officer owned 98,450 shares in the company, valued at approximately $6,807,817.50. The trade was a 3.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.16% of the company’s stock.

RLI Stock Performance

Shares of NYSE RLI opened at $64.60 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35. RLI Corp. has a one year low of $62.04 and a one year high of $91.14. The business’s 50-day moving average price is $66.45 and its two-hundred day moving average price is $71.53. The company has a market capitalization of $5.93 billion, a P/E ratio of 18.51 and a beta of 0.60.

RLI (NYSE:RLI) last released its quarterly earnings data on Monday, July 21st. The insurance provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $562.28 million for the quarter, compared to the consensus estimate of $445.55 million. RLI had a return on equity of 15.82% and a net margin of 17.81%.The firm’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.72 earnings per share. Analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. RLI’s payout ratio is currently 18.34%.

Wall Street Analyst Weigh In

A number of research firms recently commented on RLI. Truist Financial set a $62.00 price objective on shares of RLI and gave the stock a “hold” rating in a research note on Friday. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $75.83.

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.