California Public Employees Retirement System boosted its position in RLI Corp. (NYSE:RLI) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,448 shares of the insurance provider’s stock after buying an additional 2,800 shares during the quarter. California Public Employees Retirement System owned approximately 0.27% of RLI worth $7,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of RLI. Zions Bancorporation purchased a new stake in RLI in the third quarter worth approximately $145,000. CIBC Asset Management Inc purchased a new stake in RLI in the fourth quarter worth approximately $225,000. Centiva Capital LP purchased a new stake in RLI in the fourth quarter worth approximately $244,000. AE Wealth Management LLC purchased a new stake in RLI in the fourth quarter worth approximately $262,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in RLI in the third quarter worth approximately $275,000. 87.03% of the stock is owned by institutional investors and hedge funds.
RLI has been the subject of several recent research reports. Zacks Investment Research upgraded RLI from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $55.00 price objective on shares of RLI in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $57.67.
In related news, Director Michael J. Stone sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $65.36, for a total transaction of $326,800.00. Following the completion of the transaction, the director now owns 9,000 shares in the company, valued at $588,240. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Stone sold 1,141 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $59.40, for a total value of $67,775.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,041 shares of company stock valued at $452,868. 6.09% of the stock is owned by corporate insiders.
Shares of RLI Corp. (RLI) traded down $0.07 during mid-day trading on Wednesday, reaching $63.75. The company’s stock had a trading volume of 47,624 shares, compared to its average volume of 172,257. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. RLI Corp. has a 12-month low of $50.34 and a 12-month high of $65.68. The company has a market capitalization of $2,822.82, a P/E ratio of 26.85 and a beta of 1.28.
RLI (NYSE:RLI) last announced its earnings results on Wednesday, January 24th. The insurance provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $202.74 million during the quarter, compared to the consensus estimate of $197.85 million. RLI had a return on equity of 8.21% and a net margin of 13.17%. equities analysts forecast that RLI Corp. will post 2.17 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, February 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.32%. RLI’s dividend payout ratio is presently 35.44%.
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RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.
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