AlphaCrest Capital Management LLC Has $1.13 Million Stock Holdings in RLI Corp. (NYSE:RLI)

AlphaCrest Capital Management LLC raised its stake in RLI Corp. (NYSE:RLIGet Rating) by 115.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,118 shares of the insurance provider’s stock after acquiring an additional 5,412 shares during the period. AlphaCrest Capital Management LLC’s holdings in RLI were worth $1,134,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RLI. Voya Investment Management LLC increased its stake in shares of RLI by 535.9% in the 3rd quarter. Voya Investment Management LLC now owns 181,821 shares of the insurance provider’s stock valued at $18,231,000 after purchasing an additional 153,229 shares during the last quarter. Invesco Ltd. increased its stake in shares of RLI by 130.4% in the 3rd quarter. Invesco Ltd. now owns 265,593 shares of the insurance provider’s stock valued at $26,632,000 after purchasing an additional 150,343 shares during the last quarter. Eaton Vance Management increased its stake in shares of RLI by 22.4% in the 3rd quarter. Eaton Vance Management now owns 381,247 shares of the insurance provider’s stock valued at $37,760,000 after purchasing an additional 69,877 shares during the last quarter. Millennium Management LLC increased its stake in shares of RLI by 73.8% in the 3rd quarter. Millennium Management LLC now owns 116,211 shares of the insurance provider’s stock valued at $11,652,000 after purchasing an additional 49,364 shares during the last quarter. Finally, Port Capital LLC increased its stake in shares of RLI by 5.3% in the 3rd quarter. Port Capital LLC now owns 976,368 shares of the insurance provider’s stock valued at $97,900,000 after purchasing an additional 49,178 shares during the last quarter. 80.16% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:RLI opened at $116.73 on Friday. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 20.99 and a beta of 0.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.42 and a quick ratio of 0.42. The business’s 50-day moving average is $111.47 and its 200-day moving average is $108.76. RLI Corp. has a 1 year low of $96.22 and a 1 year high of $119.74.

RLI (NYSE:RLIGet Rating) last announced its quarterly earnings data on Wednesday, April 20th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.45. The company had revenue of $264.81 million for the quarter, compared to the consensus estimate of $283.93 million. RLI had a return on equity of 16.65% and a net margin of 21.98%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. Analysts anticipate that RLI Corp. will post 4.35 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 21st. Investors of record on Tuesday, May 31st will be paid a dividend of $0.26 per share. This is an increase from RLI’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Friday, May 27th. RLI’s dividend payout ratio is 17.99%.

A number of equities research analysts recently weighed in on the company. B. Riley reduced their price objective on RLI from $130.00 to $125.00 in a research report on Wednesday, January 26th. StockNews.com initiated coverage on RLI in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Compass Point upgraded RLI from a “neutral” rating to a “buy” rating and set a $117.00 price target on the stock in a research report on Tuesday, February 22nd. Finally, Royal Bank of Canada upped their price target on RLI from $112.00 to $123.00 and gave the company a “sector perform” rating in a research report on Friday, April 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, RLI currently has an average rating of “Buy” and an average price target of $120.60.

About RLI (Get Rating)

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.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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