RLI Corp (RLI) Stake Lowered by American International Group Inc.
American International Group Inc. decreased its position in RLI Corp (NYSE:RLI) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,437 shares of the insurance provider’s stock after selling 344 shares during the quarter. American International Group Inc.’s holdings in RLI were worth $2,100,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Murphy Pohlad Asset Management LLC bought a new position in shares of RLI in the fourth quarter valued at approximately $27,000. Intercontinental Wealth Advisors LLC bought a new position in shares of RLI in the fourth quarter valued at approximately $47,000. BlueMountain Capital Management LLC bought a new position in shares of RLI in the third quarter valued at approximately $121,000. FMR LLC bought a new position in shares of RLI in the third quarter valued at approximately $163,000. Finally, Ffcm LLC raised its position in shares of RLI by 1,966.4% in the fourth quarter. Ffcm LLC now owns 2,397 shares of the insurance provider’s stock valued at $165,000 after purchasing an additional 2,281 shares during the period. 89.33% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on RLI. Compass Point began coverage on shares of RLI in a research report on Tuesday, January 15th. They issued a “sell” rating and a $48.00 price target on the stock. Zacks Investment Research raised shares of RLI from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Tuesday, February 12th. Finally, TheStreet lowered shares of RLI from a “b” rating to a “c” rating in a research report on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $63.50.
RLI (NYSE:RLI) last announced its earnings results on Wednesday, January 23rd. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.24. RLI had a net margin of 7.84% and a return on equity of 10.96%. The business had revenue of $220.96 million for the quarter, compared to analyst estimates of $217.97 million. During the same quarter in the previous year, the firm posted $1.21 earnings per share. Analysts predict that RLI Corp will post 2.25 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 28th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Wednesday, February 27th. RLI’s dividend payout ratio (DPR) is currently 42.93%.
In related news, Director Michael J. Stone sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $65.43, for a total transaction of $261,720.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Stone sold 10,000 shares of the business’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $70.44, for a total transaction of $704,400.00. The disclosure for this sale can be found here. Insiders have sold 15,540 shares of company stock worth $1,069,408 in the last ninety days. 5.54% of the stock is currently owned by insiders.
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RLI Company Profile
RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.
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