American Century Companies Inc. lifted its position in RLI Corp. (NYSE:RLI) by 14.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 528,798 shares of the insurance provider’s stock after buying an additional 66,284 shares during the quarter. American Century Companies Inc. owned about 1.20% of RLI Corp. worth $30,332,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in RLI. Flinton Capital Management LLC grew its stake in shares of RLI Corp. by 60.3% in the 2nd quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock valued at $109,000 after buying an additional 752 shares in the last quarter. Riverhead Capital Management LLC boosted its position in RLI Corp. by 64.0% during the second quarter. Riverhead Capital Management LLC now owns 2,296 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 896 shares during the period. Bank of Montreal Can boosted its position in RLI Corp. by 5.8% during the second quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock worth $138,000 after purchasing an additional 139 shares during the period. Tudor Investment Corp ET AL bought a new stake in RLI Corp. during the first quarter worth approximately $203,000. Finally, Shelton Capital Management bought a new stake in RLI Corp. during the second quarter worth approximately $208,000. 83.49% of the stock is owned by institutional investors and hedge funds.
Shares of RLI Corp. (NYSE RLI) opened at $59.42 on Wednesday. RLI Corp. has a 12-month low of $50.34 and a 12-month high of $64.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $2,619.80, a P/E ratio of 36.04 and a beta of 1.27.
RLI Corp. (NYSE:RLI) last posted its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.44). RLI Corp. had a net margin of 9.97% and a return on equity of 8.53%. The business had revenue of $196.20 million during the quarter, compared to the consensus estimate of $195.89 million. During the same period in the prior year, the company posted $0.37 earnings per share. The firm’s revenue was down 4.9% compared to the same quarter last year. sell-side analysts anticipate that RLI Corp. will post 1.55 EPS for the current fiscal year.
The firm also recently disclosed a special dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Thursday, November 30th will be given a $1.75 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a dividend yield of 1.42%. RLI Corp.’s dividend payout ratio is 46.67%.
In related news, Director Michael J. Stone sold 991 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $57.40, for a total value of $56,883.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Restrepo, Jr. bought 1,026 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average price of $59.30 per share, with a total value of $60,841.80. Following the completion of the purchase, the director now directly owns 8,026 shares of the company’s stock, valued at approximately $475,941.80. The disclosure for this purchase can be found here. 6.09% of the stock is currently owned by corporate insiders.
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A number of equities research analysts have issued reports on the company. FBR & Co reaffirmed a “hold” rating on shares of RLI Corp. in a research report on Friday, July 21st. raised RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Monday, July 24th. reissued a “neutral” rating on shares of RLI Corp. in a research report on Monday, November 6th. Royal Bank Of Canada reissued an “underperform” rating and issued a $51.00 price objective (up from $50.00) on shares of RLI Corp. in a research report on Friday, October 20th. Finally, cut RLI Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.75.
RLI Corp. Profile
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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