Alaska Permanent Fund Corp Buys 14,136 Shares of RLI Corp. (NYSE:RLI)

Alaska Permanent Fund Corp increased its stake in RLI Corp. (NYSE:RLI) by 388.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,777 shares of the insurance provider’s stock after buying an additional 14,136 shares during the period. Alaska Permanent Fund Corp’s holdings in RLI were worth $2,366,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RLI. AE Wealth Management LLC increased its stake in shares of RLI by 28.3% during the third quarter. AE Wealth Management LLC now owns 9,976 shares of the insurance provider’s stock valued at $1,356,000 after purchasing an additional 2,199 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of RLI during the third quarter valued at approximately $734,000. Summit Global Investments bought a new position in shares of RLI during the third quarter valued at approximately $263,000. State of Alaska Department of Revenue increased its stake in shares of RLI by 34.5% during the third quarter. State of Alaska Department of Revenue now owns 6,760 shares of the insurance provider’s stock valued at $918,000 after purchasing an additional 1,733 shares in the last quarter. Finally, Impact Partnership Wealth LLC bought a new position in shares of RLI during the third quarter valued at approximately $127,000. 77.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RLI has been the topic of a number of recent analyst reports. Compass Point increased their price target on shares of RLI from $158.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday. Keefe, Bruyette & Woods increased their price target on shares of RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Royal Bank of Canada increased their price target on shares of RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, RLI presently has a consensus rating of “Moderate Buy” and an average price target of $163.25.

RLI Stock Performance

RLI stock traded down $1.58 on Thursday, hitting $146.13. The company had a trading volume of 10,909 shares, compared to its average volume of 174,914. RLI Corp. has a 12-month low of $123.04 and a 12-month high of $149.20. The company has a current ratio of 0.39, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock’s 50-day simple moving average is $144.65 and its 200 day simple moving average is $138.92. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 20.20 and a beta of 0.37.

RLI (NYSE:RLI) last issued its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.26. The company had revenue of $444.80 million for the quarter, compared to analysts’ expectations of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the company posted $1.63 earnings per share. As a group, equities research analysts expect that RLI Corp. will post 5.56 earnings per share for the current fiscal year.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Wednesday, February 28th. RLI’s dividend payout ratio is presently 14.92%.

RLI Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.