Retirement Systems of Alabama Has $17.70 Million Stake in RLI Corp. $RLI

Retirement Systems of Alabama increased its position in RLI Corp. (NYSE:RLI) by 0.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 245,072 shares of the insurance provider’s stock after purchasing an additional 570 shares during the period. Retirement Systems of Alabama owned about 0.27% of RLI worth $17,699,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in RLI by 7,300.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock worth $27,000 after buying an additional 365 shares in the last quarter. Golden State Wealth Management LLC lifted its position in RLI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider’s stock worth $30,000 after buying an additional 186 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in RLI by 100.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock worth $32,000 after buying an additional 198 shares in the last quarter. Chung Wu Investment Group LLC purchased a new stake in RLI in the 2nd quarter worth approximately $29,000. Finally, Hantz Financial Services Inc. lifted its position in RLI by 3,645.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock worth $30,000 after buying an additional 401 shares in the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Analysts Set New Price Targets

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

RLI Stock Up 0.1%

RLI stock opened at $58.90 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.05. RLI Corp. has a 1 year low of $58.07 and a 1 year high of $91.14. The company has a fifty day simple moving average of $64.28 and a 200 day simple moving average of $69.38. The firm has a market cap of $5.41 billion, a PE ratio of 15.46 and a beta of 0.60.

RLI (NYSE:RLI) last released its quarterly earnings data on Monday, October 20th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.21. RLI had a net margin of 19.02% and a return on equity of 16.51%. The business had revenue of $510.22 million during the quarter, compared to analyst estimates of $444.75 million. During the same quarter in the previous year, the business earned $1.31 EPS. Sell-side analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

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

RLI 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.