Strs Ohio Increases Holdings in RLI Corp. $RLI

Strs Ohio lifted its stake in RLI Corp. (NYSE:RLI) by 20.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 26,124 shares of the insurance provider’s stock after acquiring an additional 4,457 shares during the quarter. Strs Ohio’s holdings in RLI were worth $1,887,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of RLI. Caitong International Asset Management Co. Ltd boosted its holdings 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 acquiring an additional 365 shares during the period. Chung Wu Investment Group LLC purchased a new position in RLI in the 2nd quarter valued at about $29,000. Hantz Financial Services Inc. boosted its holdings in RLI by 3,645.5% in the second quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 401 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in RLI by 100.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock valued at $32,000 after purchasing 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. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on RLI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of 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 shares of RLI and gave the company a “hold” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, RLI has a consensus rating of “Hold” and a consensus price target of $72.80.

RLI Stock Performance

Shares of RLI opened at $60.61 on Wednesday. The business’s fifty day moving average price is $63.97 and its 200 day moving average price is $69.01. RLI Corp. has a 12-month low of $57.75 and a 12-month high of $91.14. The stock has a market capitalization of $5.57 billion, a PE ratio of 15.91 and a beta of 0.60. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.35 and a quick ratio of 0.35.

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

RLI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. 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.