Profund Advisors LLC Sells 1,307 Shares of RLI Corp. (RLI)
Profund Advisors LLC cut its stake in shares of RLI Corp. (NYSE:RLI) by 15.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,902 shares of the insurance provider’s stock after selling 1,307 shares during the quarter. Profund Advisors LLC’s holdings in RLI Corp. were worth $377,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Amalgamated Bank lifted its holdings in shares of RLI Corp. by 5.0% during the second quarter. Amalgamated Bank now owns 5,306 shares of the insurance provider’s stock worth $290,000 after purchasing an additional 253 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of RLI Corp. by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 202,393 shares of the insurance provider’s stock worth $11,054,000 after purchasing an additional 705 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of RLI Corp. by 64.0% during the second 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 during the period. Chatham Capital Group Inc. lifted its holdings in shares of RLI Corp. by 5.5% during the second quarter. Chatham Capital Group Inc. now owns 11,675 shares of the insurance provider’s stock worth $638,000 after purchasing an additional 608 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of RLI Corp. by 0.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,180 shares of the insurance provider’s stock worth $829,000 after purchasing an additional 100 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Robert P. Restrepo, Jr. acquired 1,200 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was acquired 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 directly owns 7,000 shares in the company, valued at approximately $403,060. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael J. Stone sold 991 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $57.40, for a total value of $56,883.40. The disclosure for this sale can be found here. Insiders own 6.09% of the company’s stock.
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Shares of RLI Corp. (NYSE:RLI) opened at 58.34 on Friday. RLI Corp. has a 12-month low of $50.34 and a 12-month high of $69.39. The firm has a market cap of $2.57 billion, a P/E ratio of 25.81 and a beta of 1.24. The firm has a 50-day moving average price of $54.65 and a 200-day moving average price of $55.92.
RLI Corp. (NYSE:RLI) last announced its quarterly earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.09. RLI Corp. had a return on equity of 10.10% and a net margin of 12.38%. The company had revenue of $196.20 million during the quarter, compared to analyst estimates of $198.09 million. During the same quarter in the previous year, the firm posted $0.61 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts expect that RLI Corp. will post $2.02 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 1.44%. RLI Corp.’s dividend payout ratio (DPR) is presently 37.17%.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised RLI Corp. from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Tuesday, September 26th. FBR & Co reaffirmed a “hold” rating on shares of RLI Corp. in a report on Friday, July 21st. Finally, BidaskClub downgraded RLI Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Two analysts have 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 company presently has a consensus rating of “Hold” and an average price target of $46.50.
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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