RLI Corp. $RLI Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in shares of RLI Corp. (NYSE:RLI) by 12.7% during the second quarter, Holdings Channel reports. The firm owned 164,412 shares of the insurance provider’s stock after selling 24,007 shares during the quarter. Los Angeles Capital Management LLC’s holdings in RLI were worth $11,874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RLI. Cambridge Investment Research Advisors Inc. increased its stake in RLI by 112.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,871 shares of the insurance provider’s stock worth $311,000 after purchasing an additional 2,047 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of RLI by 90.0% in the first quarter. Bank of New York Mellon Corp now owns 650,583 shares of the insurance provider’s stock worth $52,261,000 after buying an additional 308,154 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of RLI by 74.3% in the first quarter. Envestnet Asset Management Inc. now owns 177,477 shares of the insurance provider’s stock worth $14,257,000 after buying an additional 75,673 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of RLI by 99.4% in the first quarter. Crossmark Global Holdings Inc. now owns 7,685 shares of the insurance provider’s stock worth $617,000 after acquiring an additional 3,830 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in shares of RLI by 100.0% in the first quarter. Brown Advisory Inc. now owns 13,224 shares of the insurance provider’s stock worth $1,062,000 after acquiring an additional 6,612 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Stock Performance

Shares of RLI opened at $62.11 on Monday. The company’s 50 day moving average price is $63.56 and its 200 day moving average price is $68.67. RLI Corp. has a 52 week low of $57.75 and a 52 week high of $91.14. The company has a market capitalization of $5.70 billion, a PE ratio of 16.30 and a beta of 0.61. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35.

RLI (NYSE:RLI) last released its 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. The company had revenue of $510.22 million during the quarter, compared to the consensus estimate of $444.75 million. RLI had a net margin of 19.02% and a return on equity of 16.51%. During the same quarter in the prior year, the firm earned $1.31 EPS. Research analysts expect that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 29th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, August 29th. RLI’s dividend payout ratio (DPR) is currently 16.80%.

Analyst Ratings Changes

RLI has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. Wall Street Zen raised 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 target price on RLI and gave the company a “hold” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.80.

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.