Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 1,371 Shares of RLI Corp. (NYSE:RLI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of RLI Corp. (NYSE:RLI) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,598 shares of the insurance provider’s stock after purchasing an additional 1,371 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in RLI were worth $2,675,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new position in shares of RLI during the 2nd quarter valued at approximately $25,000. Compass Wealth Management LLC bought a new position in RLI in the 4th quarter valued at $32,000. Bessemer Group Inc. grew its position in RLI by 47.5% in the 1st quarter. Bessemer Group Inc. now owns 376 shares of the insurance provider’s stock valued at $50,000 after acquiring an additional 121 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in RLI in the 2nd quarter valued at $65,000. Finally, Signaturefd LLC grew its position in RLI by 15.4% in the 1st quarter. Signaturefd LLC now owns 578 shares of the insurance provider’s stock valued at $77,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 79.23% of the company’s stock.

RLI Price Performance

Shares of NYSE RLI opened at $134.56 on Tuesday. The stock has a market capitalization of $6.14 billion, a P/E ratio of 21.50 and a beta of 0.39. RLI Corp. has a 1-year low of $123.04 and a 1-year high of $149.65. The business has a fifty day moving average price of $135.65 and a 200 day moving average price of $133.69.

RLI (NYSE:RLI) last issued its quarterly earnings data on Tuesday, October 24th. The insurance provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.53. The firm had revenue of $331.69 million during the quarter, compared to analysts’ expectations of $377.71 million. RLI had a return on equity of 17.75% and a net margin of 20.00%. During the same period in the prior year, the business posted $0.50 EPS. As a group, equities research analysts anticipate that RLI Corp. will post 4.74 earnings per share for the current fiscal year.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Thursday, November 30th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Wednesday, November 29th. RLI’s dividend payout ratio (DPR) is presently 17.25%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Jefferies Financial Group assumed coverage on RLI in a research report on Thursday, September 7th. They issued a “buy” rating and a $155.00 price objective on the stock. StockNews.com started coverage on RLI in a report on Thursday, October 5th. They issued a “hold” rating for the company. Compass Point upped their target price on RLI from $165.00 to $170.00 in a report on Thursday, July 27th. Finally, Royal Bank of Canada lowered their target price on RLI from $151.00 to $148.00 and set a “sector perform” rating for the company in a report on Wednesday, October 25th.

About RLI

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, and mercantile.