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

Retirement Systems of Alabama reduced its position in shares of RLI Corp. (NYSE:RLI) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,247 shares of the insurance provider’s stock after selling 787 shares during the period. Retirement Systems of Alabama owned approximately 0.24% of RLI worth $15,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Maren Capital LLC boosted its position in shares of RLI by 21.3% during the 1st quarter. Maren Capital LLC now owns 612,081 shares of the insurance provider’s stock valued at $90,876,000 after purchasing an additional 107,655 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in RLI by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 411,787 shares of the insurance provider’s stock worth $54,817,000 after buying an additional 11,255 shares during the last quarter. Norges Bank acquired a new position in RLI in the fourth quarter worth approximately $52,592,000. Price T Rowe Associates Inc. MD increased its holdings in shares of RLI by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 265,365 shares of the insurance provider’s stock valued at $39,400,000 after buying an additional 33,435 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its position in shares of RLI by 9.5% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 231,388 shares of the insurance provider’s stock valued at $30,802,000 after acquiring an additional 20,100 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Performance

Shares of NYSE RLI traded up $1.40 during mid-day trading on Friday, reaching $151.36. The company had a trading volume of 92,485 shares, compared to its average volume of 159,842. The company has a market capitalization of $6.92 billion, a price-to-earnings ratio of 20.91 and a beta of 0.41. The stock has a fifty day moving average of $143.83 and a two-hundred day moving average of $144.02. RLI Corp. has a 12-month low of $125.77 and a 12-month high of $152.34.

RLI (NYSE:RLI) last released its earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.37. RLI had a net margin of 20.78% and a return on equity of 18.33%. The company had revenue of $416.44 million during the quarter, compared to the consensus estimate of $561.60 million. During the same quarter in the prior year, the firm earned $1.16 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts forecast that RLI Corp. will post 6.12 earnings per share for the current fiscal year.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 0.77%. RLI’s dividend payout ratio (DPR) is currently 16.02%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RLI. Compass Point cut their target price on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group decreased their target price on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, June 14th. Royal Bank of Canada restated a “sector perform” rating and set a $155.00 price target on shares of RLI in a report on Wednesday, July 24th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RLI currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.25.

About RLI

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.