RLI Corp. (RLI) Stake Increased by Sei Investments Co.
Sei Investments Co. boosted its stake in RLI Corp. (NYSE:RLI) by 14.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 23,270 shares of the insurance provider’s stock after buying an additional 2,978 shares during the period. Sei Investments Co. owned 0.05% of RLI Corp. worth $1,271,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its position in RLI Corp. by 28.1% in the first quarter. Parametric Portfolio Associates LLC now owns 86,155 shares of the insurance provider’s stock valued at $5,171,000 after buying an additional 18,878 shares in the last quarter. Mason Street Advisors LLC boosted its position in RLI Corp. by 7.2% in the first quarter. Mason Street Advisors LLC now owns 8,944 shares of the insurance provider’s stock valued at $537,000 after buying an additional 597 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in RLI Corp. by 3.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 218,930 shares of the insurance provider’s stock valued at $13,141,000 after buying an additional 7,349 shares in the last quarter. BlackRock Inc. boosted its position in RLI Corp. by 11,386.7% in the first quarter. BlackRock Inc. now owns 4,695,862 shares of the insurance provider’s stock valued at $281,845,000 after buying an additional 4,654,981 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in RLI Corp. by 12.9% in the fourth quarter. Teachers Advisors LLC now owns 71,333 shares of the insurance provider’s stock valued at $4,503,000 after buying an additional 8,171 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RLI Corp. (RLI) opened at 53.79 on Wednesday. RLI Corp. has a 52 week low of $52.51 and a 52 week high of $71.46. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 23.80 and a beta of 1.21. The stock’s 50 day moving average is $55.57 and its 200 day moving average is $56.74.
RLI Corp. (NYSE:RLI) last announced its quarterly earnings data on Wednesday, July 19th. The insurance provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.52 by $0.09. RLI Corp. had a net margin of 12.38% and a return on equity of 10.10%. The business had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $198.09 million. During the same period in the previous year, the business posted $0.61 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts forecast that RLI Corp. will post $2.01 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, August 29th. RLI Corp.’s payout ratio is 37.17%.
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Several equities analysts have commented on RLI shares. BidaskClub cut shares of RLI Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Royal Bank Of Canada restated a “sell” rating and set a $50.00 price target on shares of RLI Corp. in a research note on Monday, May 22nd. ValuEngine upgraded shares of RLI Corp. from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods set a $51.00 price target on shares of RLI Corp. and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Finally, Zacks Investment Research upgraded shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $47.00.
In related news, Director Michael J. Stone sold 947 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $54.76, for a total value of $51,857.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael E. Angelina bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average price of $54.41 per share, with a total value of $54,410.00. The disclosure for this purchase can be found here. Insiders own 6.09% of the company’s stock.
About RLI Corp.
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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