Chatham Capital Group Inc. lessened its position in shares of RLI Corp. (NYSE:RLI) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,905 shares of the insurance provider’s stock after selling 870 shares during the period. Chatham Capital Group Inc.’s holdings in RLI were worth $691,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its position in shares of RLI by 62.0% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,764 shares of the insurance provider’s stock valued at $175,000 after buying an additional 1,058 shares during the last quarter. Vident Investment Advisory LLC purchased a new position in shares of RLI during the 4th quarter valued at $214,000. CIBC Asset Management Inc purchased a new position in shares of RLI during the 4th quarter valued at $225,000. Sawtooth Solutions LLC purchased a new position in shares of RLI during the 1st quarter valued at $227,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of RLI during the 4th quarter valued at $232,000. 86.39% of the stock is currently owned by hedge funds and other institutional investors.
RLI has been the topic of a number of recent research reports. Zacks Investment Research raised RLI from a “sell” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Tuesday, April 17th. ValuEngine raised RLI from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $59.33.
Shares of NYSE RLI opened at $67.11 on Friday. RLI Corp. has a one year low of $50.34 and a one year high of $67.55. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market cap of $2.96 billion, a PE ratio of 41.68 and a beta of 1.23.
RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, April 18th. The insurance provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. The firm had revenue of $204.26 million for the quarter, compared to analysts’ expectations of $203.31 million. RLI had a return on equity of 9.10% and a net margin of 12.39%. research analysts expect that RLI Corp. will post 2.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Thursday, May 31st will be issued a dividend of $0.22 per share. This is a boost from RLI’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.31%. RLI’s dividend payout ratio is 52.17%.
In related news, Director Michael J. Stone sold 15,000 shares of the stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $63.91, for a total transaction of $958,650.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kaj Ahlmann sold 1,005 shares of the stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $63.79, for a total value of $64,108.95. The disclosure for this sale can be found here. Insiders have sold a total of 18,588 shares of company stock worth $1,184,695 in the last three months. 6.09% of the stock is currently owned by insiders.
RLI Company Profile
RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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, real estate investment trusts, and mercantile.
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