RLI Corp. (NYSE:RLI) Stock Holdings Boosted by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its position in shares of RLI Corp. (NYSE:RLI) by 0.1% in the 1st quarter, Holdings Channel reports. The fund owned 112,034 shares of the insurance provider’s stock after buying an additional 148 shares during the period. Retirement Systems of Alabama’s holdings in RLI were worth $16,634,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Creekmur Asset Management LLC bought a new position in shares of RLI during the fourth quarter worth about $1,024,000. Principal Financial Group Inc. grew its position in RLI by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 168,210 shares of the insurance provider’s stock valued at $22,392,000 after buying an additional 5,113 shares in the last quarter. Maren Capital LLC bought a new position in RLI in the 4th quarter valued at about $67,149,000. Royal London Asset Management Ltd. bought a new position in RLI in the 4th quarter valued at about $2,079,000. Finally, Nepsis Inc. grew its position in RLI by 29.2% in the 1st quarter. Nepsis Inc. now owns 91,455 shares of the insurance provider’s stock valued at $13,578,000 after buying an additional 20,663 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

Analyst Ratings Changes

RLI has been the subject of several research reports. Jefferies Financial Group reduced their price objective on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, June 14th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price objective on shares of RLI in a research report on Friday, June 21st. JMP Securities restated a “market perform” rating on shares of RLI in a research report on Tuesday, April 23rd. Compass Point raised their price objective on shares of RLI from $158.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada raised their price objective on shares of RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.75.

RLI Stock Up 0.1 %

Shares of RLI stock traded up $0.08 during midday trading on Friday, hitting $138.03. The company’s stock had a trading volume of 228,640 shares, compared to its average volume of 161,660. The firm has a market capitalization of $6.31 billion, a P/E ratio of 18.94 and a beta of 0.41. RLI Corp. has a 1-year low of $125.77 and a 1-year high of $149.20. The stock has a 50-day simple moving average of $143.23 and a 200-day simple moving average of $141.92.

RLI (NYSE:RLI) last issued its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. The company had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. RLI had a return on equity of 17.24% and a net margin of 20.96%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS. As a group, sell-side analysts predict that RLI Corp. will post 5.85 earnings per share for the current year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were issued a $0.29 dividend. This is an increase from RLI’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, May 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.84%. RLI’s dividend payout ratio is currently 16.02%.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. 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.