RLI Corp. (NYSE:RLI) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in RLI Corp. (NYSE:RLI) by 7.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,859 shares of the insurance provider’s stock after selling 592 shares during the period. PNC Financial Services Group Inc.’s holdings in RLI were worth $1,046,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. purchased a new stake in RLI in the 4th quarter valued at about $25,000. Gladius Capital Management LP raised its position in shares of RLI by 129.7% in the 3rd quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 153 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of RLI during the 4th quarter valued at approximately $41,000. TFO Wealth Partners LLC grew its position in shares of RLI by 31,950.0% during the fourth quarter. TFO Wealth Partners LLC now owns 641 shares of the insurance provider’s stock worth $85,000 after buying an additional 639 shares in the last quarter. Finally, Duncker Streett & Co. Inc. acquired a new stake in RLI in the fourth quarter valued at $127,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on RLI. JMP Securities reissued a “market perform” rating on shares of RLI in a report on Tuesday, April 23rd. Jefferies Financial Group lowered their price objective on RLI from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, June 14th. Royal Bank of Canada increased their target price on RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price target on shares of RLI in a report on Friday. Finally, Compass Point raised their price objective on RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, RLI has a consensus rating of “Moderate Buy” and an average target price of $165.75.

RLI Trading Down 0.8 %

NYSE RLI opened at $141.30 on Monday. The company has a 50-day moving average price of $143.39 and a two-hundred day moving average price of $141.56. RLI Corp. has a 52 week low of $125.77 and a 52 week high of $149.20. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 19.52 and a beta of 0.41.

RLI (NYSE:RLI) last announced its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. RLI had a return on equity of 17.24% and a net margin of 20.96%. The firm had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. During the same quarter in the previous year, the business earned $1.63 EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities research analysts expect that RLI Corp. will post 5.85 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were paid a dividend of $0.29 per share. This is a boost from RLI’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.16 annualized dividend and a yield of 0.82%. RLI’s dividend payout ratio (DPR) is presently 16.02%.

About RLI

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.