RLI Corp. $RLI Shares Sold by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. cut its stake in shares of RLI Corp. (NYSE:RLI) by 38.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,852 shares of the insurance provider’s stock after selling 18,476 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in RLI were worth $2,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of RLI by 95.2% in the 1st quarter. Vanguard Group Inc. now owns 8,996,643 shares of the insurance provider’s stock worth $722,700,000 after acquiring an additional 4,388,400 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in RLI by 117.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,226,797 shares of the insurance provider’s stock valued at $419,869,000 after purchasing an additional 2,817,616 shares during the period. Neuberger Berman Group LLC lifted its stake in RLI by 106.6% during the first quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider’s stock worth $220,967,000 after purchasing an additional 1,419,212 shares in the last quarter. Markel Group Inc. lifted its stake in RLI by 100.0% during the first quarter. Markel Group Inc. now owns 2,394,544 shares of the insurance provider’s stock worth $192,354,000 after purchasing an additional 1,197,272 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of RLI by 97.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider’s stock worth $149,569,000 after buying an additional 920,799 shares during the period. 77.89% of the stock is owned by hedge funds and other institutional investors.

RLI Trading Up 2.4%

RLI opened at $62.11 on Monday. The business has a fifty day moving average price of $63.56 and a 200 day moving average price of $68.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.35 and a quick ratio of 0.35. RLI Corp. has a 12 month low of $57.75 and a 12 month high of $91.14. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 16.30 and a beta of 0.61.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating 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 $510.22 million for the quarter, compared to analyst estimates of $444.75 million. During the same quarter last year, the company earned $1.31 EPS. Sell-side analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 29th were paid a $0.16 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. RLI’s payout ratio is currently 16.80%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RLI. Weiss Ratings reiterated a “hold (c)” rating on shares of RLI in a report on Wednesday, October 8th. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Truist Financial set a $62.00 price target on shares of RLI and gave the stock a “hold” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, RLI presently has a consensus rating of “Hold” and an average target price of $72.80.

About RLI

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.