Nisa Investment Advisors LLC Trims Holdings in RLI Corp. $RLI

Nisa Investment Advisors LLC reduced its holdings in shares of RLI Corp. (NYSE:RLI) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,122 shares of the insurance provider’s stock after selling 948 shares during the quarter. Nisa Investment Advisors LLC’s holdings in RLI were worth $4,703,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RLI. Caitong International Asset Management Co. Ltd boosted its stake in shares of RLI by 7,300.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock valued at $27,000 after buying an additional 365 shares during the last quarter. Chung Wu Investment Group LLC purchased a new position in shares of RLI during the 2nd quarter valued at approximately $29,000. Golden State Wealth Management LLC boosted its stake in shares of RLI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider’s stock valued at $30,000 after buying an additional 186 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of RLI by 100.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock valued at $32,000 after buying an additional 198 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of RLI during the 2nd quarter valued at approximately $37,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Price Performance

Shares of NYSE RLI opened at $59.33 on Wednesday. RLI Corp. has a 1-year low of $59.01 and a 1-year high of $91.14. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.35 and a quick ratio of 0.35. The business’s fifty day moving average price is $64.86 and its two-hundred day moving average price is $69.71. The firm has a market capitalization of $5.45 billion, a PE ratio of 15.57 and a beta of 0.60.

RLI (NYSE:RLI) last issued its earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The firm had revenue of $510.22 million for the quarter, compared to analyst estimates of $444.75 million. During the same period last year, the company earned $1.31 earnings per share. On average, research analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 annualized dividend and a yield of 1.1%. RLI’s dividend payout ratio (DPR) is currently 16.80%.

Analyst Upgrades and Downgrades

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

RLI Company Profile

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.