Bruce & Co. Inc. held its position in shares of RLI Corp. (NYSE:RLI) during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 44,120 shares of the insurance provider’s stock at the end of the first quarter. RLI Corp. makes up approximately 0.6% of Bruce & Co. Inc.’s portfolio, making the stock its 29th largest position. Bruce & Co. Inc. owned about 0.10% of RLI Corp. worth $2,648,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in RLI. BlackRock Inc. boosted its position 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 worth $281,845,000 after buying an additional 4,654,981 shares during the last quarter. State Street Corp boosted its position in 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 acquired a new position in RLI Corp. during the fourth quarter worth approximately $22,277,000. Vanguard Group Inc. boosted its position in 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 position in 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 own 81.76% of the company’s stock.
RLI Corp. (NYSE:RLI) traded down 1.53% during trading on Monday, reaching $55.99. The company had a trading volume of 99,364 shares. The company has a 50-day moving average price of $55.88 and a 200 day moving average price of $58.64. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 24.03 and a beta of 1.18. RLI Corp. has a one year low of $52.51 and a one year high of $71.46.
RLI Corp. (NYSE:RLI) last released its quarterly earnings data on Wednesday, April 19th. The insurance provider reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.05. The business had revenue of $196.90 million during the quarter, compared to the consensus estimate of $199.01 million. RLI Corp. had a return on equity of 9.52% and a net margin of 10.07%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $0.54 earnings per share. Analysts expect that RLI Corp. will post $1.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Wednesday, May 31st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 26th. This is an increase from RLI Corp.’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 1.50%. RLI Corp.’s dividend payout ratio (DPR) is 36.21%.
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A number of equities analysts recently commented on RLI shares. Zacks Investment Research upgraded RLI Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, March 15th. Royal Bank Of Canada reiterated a “sell” rating and set a $50.00 price target on shares of RLI Corp. in a report on Monday, May 22nd. Keefe, Bruyette & Woods set a $51.00 price target on RLI Corp. and gave the stock a “hold” rating in a report on Wednesday, May 24th. FBR & Co reiterated a “hold” rating on shares of RLI Corp. in a report on Thursday, April 20th. Finally, ValuEngine upgraded RLI Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. RLI Corp. presently has a consensus rating of “Hold” and an average target price of $41.33.
In related news, Director Michael J. Stone sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $55.25, for a total value of $276,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert P. Restrepo, Jr. acquired 2,325 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was acquired at an average cost of $56.02 per share, with a total value of $130,246.50. Following the completion of the acquisition, the director now owns 1,900 shares in the company, valued at approximately $106,438. The disclosure for this purchase can be found here. 6.09% of the stock is currently owned by company insiders.
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.
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