Personal Capital Advisors Corp decreased its position in RLI Corp. (NYSE:RLI) by 81.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,269 shares of the insurance provider’s stock after selling 206,612 shares during the period. Personal Capital Advisors Corp owned about 0.11% of RLI Corp. worth $2,582,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of RLI. Meadow Creek Investment Management LLC increased its position in shares of RLI Corp. by 1.3% in the first quarter. Meadow Creek Investment Management LLC now owns 1,716 shares of the insurance provider’s stock worth $103,000 after buying an additional 22 shares during the period. Glen Harbor Capital Management LLC increased its position in shares of RLI Corp. by 1.3% in the first quarter. Glen Harbor Capital Management LLC now owns 2,184 shares of the insurance provider’s stock worth $131,000 after buying an additional 28 shares during the period. Bank of Montreal Can increased its position in shares of RLI Corp. by 5.8% in the second quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock worth $138,000 after buying an additional 139 shares during the period. Elkfork Partners LLC increased its position in shares of RLI Corp. by 1.3% in the first quarter. Elkfork Partners LLC now owns 2,652 shares of the insurance provider’s stock worth $159,000 after buying an additional 34 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of RLI Corp. during the first quarter worth approximately $175,000. 81.10% of the stock is currently owned by institutional investors.
RLI Corp. (NYSE:RLI) traded down 1.51% during midday trading on Tuesday, hitting $56.06. 176,462 shares of the stock were exchanged. The firm has a 50 day moving average of $55.69 and a 200-day moving average of $57.25. RLI Corp. has a 12-month low of $52.51 and a 12-month high of $71.46. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 24.81 and a beta of 1.21.
RLI Corp. (NYSE:RLI) last announced its quarterly earnings data on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. The business had revenue of $196.20 million for the quarter, compared to analyst estimates of $198.09 million. RLI Corp. had a net margin of 12.38% and a return on equity of 10.10%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 EPS. On average, equities analysts expect that RLI Corp. will post $2.01 earnings per share for the current year.
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A number of equities analysts have commented on RLI shares. 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 Thursday, April 20th. ValuEngine raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods set a $51.00 price target on shares of RLI Corp. and gave the company a “hold” rating in a research note on Wednesday, May 24th. Finally, Royal Bank Of Canada reissued a “sell” rating and issued a $50.00 price target on shares of RLI Corp. in a research note on Monday, May 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.00.
In other news, Director Michael J. Stone sold 947 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $54.76, for a total transaction of $51,857.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert P. Restrepo, Jr. acquired 1,200 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were bought at an average price of $57.58 per share, for a total transaction of $69,096.00. Following the completion of the acquisition, the director now owns 7,000 shares in the company, valued at $403,060. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 8,947 shares of company stock worth $501,958. Insiders own 6.09% of the company’s stock.
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.
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