Bruce & Co. Inc. maintained its stake in RLI Corp. (NYSE:RLI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,120 shares of the insurance provider’s stock at the end of the first quarter. RLI Corp. makes up 0.6% of Bruce & Co. Inc.’s holdings, making the stock its 29th largest position. Bruce & Co. Inc. owned about 0.10% of RLI Corp. worth $2,648,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in RLI Corp. by 11,386.7% in the first quarter. BlackRock Inc. now owns 4,695,862 shares of the insurance provider’s stock valued at $281,845,000 after buying an additional 4,654,981 shares in the last quarter. 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 during the last quarter. Norges Bank purchased a new stake in shares of RLI Corp. during the fourth quarter worth $22,277,000. 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 during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of RLI Corp. by 59.8% in the first quarter. American Century Companies Inc. now owns 393,863 shares of the insurance provider’s stock worth $23,640,000 after buying an additional 147,314 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.
RLI Corp. (NYSE:RLI) traded up 1.81% during trading on Friday, hitting $55.08. 114,115 shares of the company traded hands. The firm has a market capitalization of $2.42 billion, a P/E ratio of 23.64 and a beta of 1.20. The stock has a 50-day moving average price of $55.55 and a 200-day moving average price of $58.26. RLI Corp. has a 12-month low of $52.51 and a 12-month high of $71.46.
RLI Corp. (NYSE:RLI) last posted its quarterly earnings results on Wednesday, April 19th. The insurance provider reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.05. RLI Corp. had a return on equity of 10.02% and a net margin of 12.73%. The business had revenue of $196.90 million during the quarter, compared to analysts’ expectations of $199.01 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts expect that RLI Corp. will post $1.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Wednesday, May 31st were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 26th. This represents a $0.84 annualized dividend and a dividend yield of 1.53%. This is a positive change from RLI Corp.’s previous quarterly dividend of $0.20. RLI Corp.’s payout ratio is presently 36.21%.
TRADEMARK VIOLATION WARNING: “Bruce & Co. Inc. Continues to Hold Position in RLI Corp. (RLI)” was originally reported by BBNS and is the property of of BBNS. If you are reading this news story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this news story can be read at https://baseballnewssource.com/markets/rli-corp-rli-stake-maintained-by-bruce-co-inc-updated-updated/1043965.html.
RLI has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of RLI Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, March 15th. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $50.00 target price on shares of RLI Corp. in a report on Monday, May 22nd. ValuEngine raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods set a $51.00 price objective on shares of RLI Corp. and gave the stock a “hold” rating in a report on Wednesday, May 24th. Finally, FBR & Co reissued a “hold” rating on shares of RLI Corp. in a report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. RLI Corp. presently has an average rating of “Hold” and an average target price of $41.33.
In other RLI Corp. news, Director Robert P. Restrepo, Jr. acquired 2,325 shares of the company’s stock in a transaction dated Monday, April 24th. The stock was purchased at an average price of $56.02 per share, with a total value of $130,246.50. Following the completion of the purchase, the director now directly owns 1,900 shares in the company, valued at approximately $106,438. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Stone sold 947 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was 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. Insiders own 6.09% of the company’s stock.
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.
Receive News & Ratings for RLI Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLI Corp. and related companies with our FREE daily email newsletter.