Blair William & Co. IL Reduces Position in RLI Corp. (NYSE:RLI)

Blair William & Co. IL cut its stake in shares of RLI Corp. (NYSE:RLI) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,880 shares of the insurance provider’s stock after selling 64 shares during the quarter. Blair William & Co. IL’s holdings in RLI Corp. were worth $267,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Meadow Creek Investment Management LLC boosted its stake in RLI Corp. by 1.3% during the first quarter. Meadow Creek Investment Management LLC now owns 1,716 shares of the insurance provider’s stock worth $103,000 after acquiring an additional 22 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in RLI Corp. by 1.3% during the first quarter. Glen Harbor Capital Management LLC now owns 2,184 shares of the insurance provider’s stock worth $131,000 after acquiring an additional 28 shares in the last quarter. Bank of Montreal Can boosted its stake 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 acquiring an additional 139 shares in the last quarter. Elkfork Partners LLC boosted its stake in RLI Corp. by 1.3% during the first quarter. Elkfork Partners LLC now owns 2,652 shares of the insurance provider’s stock worth $159,000 after acquiring an additional 34 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in RLI Corp. during the first quarter worth $175,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Michael E. Angelina purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average price of $54.41 per share, for a total transaction of $54,410.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Stone sold 947 shares of RLI Corp. stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $54.76, for a total value of $51,857.72. The disclosure for this sale can be found here. 6.09% of the stock is currently owned by company insiders.

Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Monday, July 24th. FBR & Co reaffirmed a “hold” rating on shares of RLI Corp. in a research note on Friday, July 21st. ValuEngine raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub lowered shares of RLI Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Keefe, Bruyette & Woods set a $51.00 price objective on shares of RLI Corp. and gave the company a “hold” rating in a research note on Wednesday, May 24th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $47.00.

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RLI Corp. (NYSE RLI) traded up 0.04% during trading on Friday, hitting $53.37. 66,257 shares of the stock were exchanged. RLI Corp. has a 1-year low of $50.34 and a 1-year high of $69.51. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 23.62 and a beta of 1.24. The company has a 50-day moving average price of $54.73 and a 200 day moving average price of $56.15.

RLI Corp. (NYSE:RLI) last issued its quarterly earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. The company had revenue of $196.20 million during the quarter, compared to the consensus estimate of $198.09 million. RLI Corp. had a return on equity of 10.10% and a net margin of 12.38%. RLI Corp.’s revenue was up .1% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. Equities analysts predict that RLI Corp. will post $2.01 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 1.57%. RLI Corp.’s dividend payout ratio (DPR) is 37.17%.

RLI Corp. Company 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.

Institutional Ownership by Quarter for RLI Corp. (NYSE:RLI)

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