Hsbc Holdings PLC Invests $549,000 in RLI Corp. (NYSE:RLI)

Hsbc Holdings PLC bought a new stake in RLI Corp. (NYSE:RLI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,300 shares of the insurance provider’s stock, valued at approximately $549,000.

A number of other institutional investors have also added to or reduced their stakes in RLI. BlackRock Inc. grew its position in RLI by 2.2% in the fourth quarter. BlackRock Inc. now owns 4,569,094 shares of the insurance provider’s stock valued at $475,871,000 after purchasing an additional 100,086 shares in the last quarter. Morgan Stanley grew its position in RLI by 44.4% in the third quarter. Morgan Stanley now owns 178,590 shares of the insurance provider’s stock valued at $14,953,000 after purchasing an additional 54,947 shares in the last quarter. Credit Suisse AG grew its position in RLI by 101.3% in the fourth quarter. Credit Suisse AG now owns 81,705 shares of the insurance provider’s stock valued at $8,510,000 after purchasing an additional 41,115 shares in the last quarter. First Pacific Advisors LP bought a new position in RLI in the fourth quarter valued at $3,285,000. Finally, Cubist Systematic Strategies LLC grew its position in RLI by 2,320.6% in the third quarter. Cubist Systematic Strategies LLC now owns 27,353 shares of the insurance provider’s stock valued at $2,290,000 after purchasing an additional 26,223 shares in the last quarter. 84.37% of the stock is owned by institutional investors and hedge funds.

Shares of RLI stock opened at $114.68 on Friday. The stock has a market cap of $5.18 billion, a P/E ratio of 41.10 and a beta of 0.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.38 and a quick ratio of 0.38. The company has a fifty day moving average price of $110.75 and a two-hundred day moving average price of $100.59. RLI Corp. has a one year low of $66.31 and a one year high of $117.84.

RLI (NYSE:RLI) last announced its quarterly earnings results on Tuesday, January 26th. The insurance provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The firm had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $238.44 million. RLI had a net margin of 13.42% and a return on equity of 11.05%. The company’s quarterly revenue was up 41.2% on a year-over-year basis. As a group, equities research analysts anticipate that RLI Corp. will post 2.45 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 19th. Stockholders of record on Friday, February 26th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Thursday, February 25th. RLI’s dividend payout ratio is presently 37.35%.

RLI has been the subject of a number of analyst reports. B. Riley raised their target price on shares of RLI from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, March 9th. Compass Point increased their price target on shares of RLI from $93.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, January 6th. Finally, Royal Bank of Canada increased their price target on shares of RLI from $95.00 to $102.00 and gave the company a “sector perform” rating in a research note on Friday, January 29th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $109.25.

RLI 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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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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