RLI Corp. (RLI) Shares Bought by Northern Trust Corp

Northern Trust Corp raised its stake in shares of RLI Corp. (NYSE:RLI) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 967,409 shares of the insurance provider’s stock after acquiring an additional 14,498 shares during the quarter. Northern Trust Corp owned approximately 2.18% of RLI worth $64,033,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RLI. BlackRock Inc. boosted its stake in RLI by 1.7% during the 1st quarter. BlackRock Inc. now owns 5,011,029 shares of the insurance provider’s stock valued at $317,648,000 after acquiring an additional 85,133 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in RLI by 1.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 51,077 shares of the insurance provider’s stock valued at $3,236,000 after acquiring an additional 917 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in RLI by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,096,032 shares of the insurance provider’s stock valued at $69,478,000 after acquiring an additional 16,396 shares during the last quarter. Hsbc Holdings PLC boosted its stake in RLI by 543.5% during the 1st quarter. Hsbc Holdings PLC now owns 23,322 shares of the insurance provider’s stock valued at $1,481,000 after acquiring an additional 19,698 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in RLI by 13.1% during the 1st quarter. Russell Investments Group Ltd. now owns 28,726 shares of the insurance provider’s stock valued at $1,821,000 after acquiring an additional 3,319 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

A number of research analysts have commented on RLI shares. Zacks Investment Research upgraded shares of RLI from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Monday, July 23rd. B. Riley increased their price objective on shares of RLI from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, August 7th. Royal Bank of Canada upgraded shares of RLI from an “underperform” rating to a “sector perform” rating in a research note on Friday, July 20th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $57.00 price objective on shares of RLI in a research note on Friday, July 20th. Finally, ValuEngine downgraded shares of RLI from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $64.75.

In other RLI news, Director Michael J. Stone sold 5,000 shares of the stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $77.84, for a total transaction of $389,200.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael J. Stone sold 1,422 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $77.63, for a total transaction of $110,389.86. The disclosure for this sale can be found here. 5.54% of the stock is currently owned by corporate insiders.

Shares of NYSE:RLI opened at $75.50 on Monday. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 46.89 and a beta of 1.22. RLI Corp. has a 1-year low of $56.72 and a 1-year high of $79.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.35 and a current ratio of 0.35.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, July 18th. The insurance provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The company had revenue of $211.10 million for the quarter, compared to analysts’ expectations of $208.39 million. RLI had a net margin of 12.91% and a return on equity of 9.13%. During the same period in the prior year, the company earned $0.61 earnings per share. As a group, equities research analysts anticipate that RLI Corp. will post 2.28 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 20th. Shareholders of record on Friday, August 31st were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.17%. RLI’s dividend payout ratio (DPR) is 54.66%.

RLI 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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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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