Los Angeles Capital Management LLC Has $13.51 Million Stock Holdings in RLI Corp. (NYSE:RLI)

Los Angeles Capital Management LLC decreased its holdings in shares of RLI Corp. (NYSE:RLI) by 55.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,988 shares of the insurance provider’s stock after selling 112,058 shares during the period. Los Angeles Capital Management LLC owned approximately 0.20% of RLI worth $13,509,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new position in RLI during the fourth quarter worth $1,024,000. QRG Capital Management Inc. bought a new stake in shares of RLI in the 3rd quarter worth $661,000. Principal Financial Group Inc. grew its stake in shares of RLI by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 168,210 shares of the insurance provider’s stock worth $22,392,000 after acquiring an additional 5,113 shares in the last quarter. Maren Capital LLC bought a new stake in shares of RLI in the 4th quarter worth $67,149,000. Finally, Royal London Asset Management Ltd. bought a new stake in shares of RLI in the 4th quarter worth $2,079,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

Wall Street Analysts Forecast Growth

RLI has been the subject of several recent analyst reports. Jefferies Financial Group reduced their target price on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Keefe, Bruyette & Woods upped their target price on shares of RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Compass Point upped their target price on shares of RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. 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 research report on Wednesday, April 24th. Finally, JMP Securities restated a “market perform” rating on shares of RLI in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, RLI presently has an average rating of “Moderate Buy” and a consensus price target of $165.75.

RLI Stock Up 0.0 %

Shares of NYSE:RLI opened at $141.55 on Thursday. The firm has a market capitalization of $6.47 billion, a PE ratio of 19.55 and a beta of 0.41. RLI Corp. has a twelve month low of $125.77 and a twelve month high of $149.20. The company has a 50-day moving average price of $143.22 and a two-hundred day moving average price of $141.44.

RLI (NYSE:RLI) last issued its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. The firm had revenue of $444.80 million during the quarter, compared to analyst estimates of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The company’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the business earned $1.63 earnings per share. Analysts anticipate that RLI Corp. will post 5.85 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, May 31st. This is a positive change from RLI’s previous quarterly dividend of $0.27. RLI’s dividend payout ratio (DPR) is currently 16.02%.

RLI Company 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.