Royce & Associates LP Boosts Position in RLI Corp. (RLI)

Royce & Associates LP boosted its holdings in RLI Corp. (NYSE:RLI) by 21.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 530,460 shares of the insurance provider’s stock after buying an additional 93,380 shares during the period. Royce & Associates LP owned approximately 1.20% of RLI worth $30,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RLI. Janus Henderson Group PLC purchased a new position in RLI in the second quarter valued at approximately $24,542,000. State Street Corp raised its stake in shares of RLI by 2.4% during the second quarter. State Street Corp now owns 6,297,222 shares of the insurance provider’s stock valued at $343,954,000 after purchasing an additional 145,202 shares during the period. JPMorgan Chase & Co. raised its stake in shares of RLI by 22,871.8% during the third quarter. JPMorgan Chase & Co. now owns 133,466 shares of the insurance provider’s stock valued at $7,723,000 after purchasing an additional 132,885 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of RLI during the third quarter valued at approximately $5,525,000. Finally, Vaughan David Investments Inc. IL raised its stake in shares of RLI by 31.0% during the third quarter. Vaughan David Investments Inc. IL now owns 351,089 shares of the insurance provider’s stock valued at $21,957,000 after purchasing an additional 83,076 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

RLI Corp. (RLI) traded down $0.06 on Friday, hitting $58.08. 127,833 shares of the stock were exchanged, compared to its average volume of 166,080. 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 stock has a market capitalization of $2,561.64, a price-to-earnings ratio of 35.24 and a beta of 1.27. RLI Corp. has a 12 month low of $50.34 and a 12 month high of $64.03.

RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.44). The company had revenue of $196.20 million during the quarter, compared to the consensus estimate of $195.89 million. RLI had a return on equity of 8.53% and a net margin of 9.97%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. analysts forecast that RLI Corp. will post 1.55 earnings per share for the current year.

The business also recently declared a special dividend, which will be paid on Wednesday, December 27th. Investors of record on Thursday, November 30th will be paid a $1.75 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a dividend yield of 1.42%. RLI’s dividend payout ratio (DPR) is presently 46.67%.

RLI has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an “underperform” rating and set a $51.00 price objective (up previously from $50.00) on shares of RLI in a research note on Friday, October 20th. Zacks Investment Research lowered shares of RLI from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. B. Riley reiterated a “neutral” rating on shares of RLI in a research note on Monday, November 6th. BidaskClub lowered shares of RLI from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Keefe, Bruyette & Woods set a $51.00 price objective on shares of RLI and gave the company a “hold” rating in a research note on Wednesday, October 18th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. RLI currently has a consensus rating of “Hold” and a consensus target price of $47.75.

In related news, Director Robert P. Restrepo, Jr. purchased 1,026 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average price of $59.30 per share, for a total transaction of $60,841.80. Following the completion of the purchase, the director now owns 8,026 shares in the company, valued at $475,941.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Stone sold 991 shares of RLI stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $57.40, for a total transaction of $56,883.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,991 shares of company stock valued at $296,903. Insiders own 6.09% of the company’s stock.

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RLI 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.

Institutional Ownership by Quarter for RLI (NYSE:RLI)

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