Hexavest Inc. Continues to Hold Position in RLI Corp. (NYSE:RLI)

Hexavest Inc. maintained its position in shares of RLI Corp. (NYSE:RLI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,900 shares of the insurance provider’s stock at the end of the second quarter. Hexavest Inc.’s holdings in RLI Corp. were worth $104,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RLI. State Street Corp boosted its stake in shares of RLI Corp. by 9.1% in the first quarter. State Street Corp now owns 6,152,020 shares of the insurance provider’s stock worth $369,239,000 after buying an additional 514,755 shares in the last quarter. BlackRock Inc. boosted its stake in shares of RLI Corp. by 11,386.7% in the first quarter. BlackRock Inc. now owns 4,695,862 shares of the insurance provider’s stock worth $281,845,000 after buying an additional 4,654,981 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of RLI Corp. by 7.3% in the first quarter. Vanguard Group Inc. now owns 4,163,098 shares of the insurance provider’s stock worth $249,869,000 after buying an additional 284,228 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of RLI Corp. by 5.0% in the first quarter. Neuberger Berman Group LLC now owns 2,421,994 shares of the insurance provider’s stock worth $145,368,000 after buying an additional 116,398 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of RLI Corp. by 4.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,598,291 shares of the insurance provider’s stock worth $95,930,000 after buying an additional 67,593 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

RLI Corp. (NYSE RLI) traded down 1.51% during trading on Tuesday, hitting $56.06. The company had a trading volume of 176,462 shares. The stock has a market capitalization of $2.47 billion, a PE ratio of 24.81 and a beta of 1.21. The stock has a 50-day moving average of $55.69 and a 200-day moving average of $57.25. RLI Corp. has a one year low of $52.51 and a one year high of $71.46.

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

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Several equities analysts recently weighed in on the company. Royal Bank Of Canada reissued a “sell” rating and set a $50.00 price objective on shares of RLI Corp. in a research report on Monday, May 22nd. ValuEngine raised RLI Corp. from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods set a $51.00 price objective on RLI Corp. and gave the stock a “hold” rating in a research report on Wednesday, May 24th. FBR & Co reissued a “hold” rating on shares of RLI Corp. in a research report on Thursday, April 20th. Finally, Zacks Investment Research 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. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.00.

In other RLI Corp. news, Director Michael J. Stone sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $57.95, for a total transaction of $173,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert P. Restrepo, Jr. acquired 1,200 shares of the business’s stock in a transaction on Monday, July 24th. The shares were bought at an average price of $57.58 per share, with a total value of $69,096.00. Following the completion of the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at $403,060. The disclosure for this purchase can be found here. Insiders have sold 8,947 shares of company stock valued at $501,958 in the last quarter. 6.09% of the stock is currently owned by corporate insiders.

About RLI Corp.

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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