RLI Corp. (RLI) Shares Sold by Public Sector Pension investment Board
Public Sector Pension investment Board reduced its stake in RLI Corp. (NYSE:RLI) by 28.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,671 shares of the insurance provider’s stock after selling 8,000 shares during the period. Public Sector Pension investment Board’s holdings in RLI Corp. were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of RLI. Meadow Creek Investment Management LLC grew its holdings in shares of RLI Corp. by 1.3% during the 1st quarter. Meadow Creek Investment Management LLC now owns 1,716 shares of the insurance provider’s stock valued at $103,000 after purchasing an additional 22 shares during the last quarter. Riverhead Capital Management LLC increased its position in RLI Corp. by 64.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,296 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 896 shares in the last quarter. Bank of Montreal Can increased its position in RLI Corp. by 1.7% during the 1st quarter. Bank of Montreal Can now owns 2,410 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 40 shares in the last quarter. Quantbot Technologies LP acquired a new position in RLI Corp. during the 1st quarter worth approximately $175,000. Finally, Tudor Investment Corp ET AL acquired a new position in RLI Corp. during the 1st quarter worth approximately $203,000. Institutional investors own 82.91% of the company’s stock.
In other RLI Corp. news, Director Michael J. Stone sold 947 shares of RLI Corp. stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $54.76, for a total transaction of $51,857.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Stone sold 3,000 shares of RLI Corp. stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $57.95, for a total transaction of $173,850.00. The disclosure for this sale can be found here. 6.09% of the stock is owned by company insiders.
RLI has been the topic of a number of research reports. Zacks Investment Research lowered RLI Corp. from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. BidaskClub downgraded RLI Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, FBR & Co reiterated a “hold” rating on shares of RLI Corp. in a research report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $46.50.
Shares of RLI Corp. (NYSE RLI) opened at 57.36 on Monday. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 25.38 and a beta of 1.24. The firm’s 50-day moving average is $54.39 and its 200-day moving average is $56.02. RLI Corp. has a 12-month low of $50.34 and a 12-month high of $69.39.
RLI Corp. (NYSE:RLI) last released its earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. On average, equities analysts predict that RLI Corp. will post $2.02 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Thursday, August 31st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, August 29th. RLI Corp.’s payout ratio is currently 37.17%.
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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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