Federated Hermes Inc. Has $14.01 Million Stock Holdings in RLI Corp. (NYSE:RLI)

Federated Hermes Inc. reduced its position in shares of RLI Corp. (NYSE:RLI) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,560 shares of the insurance provider’s stock after selling 2,928 shares during the period. Federated Hermes Inc. owned approximately 0.22% of RLI worth $14,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RLI. Commerce Bank lifted its position in shares of RLI by 1.7% during the 4th quarter. Commerce Bank now owns 4,419 shares of the insurance provider’s stock worth $588,000 after buying an additional 75 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of RLI by 3.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,259 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 99 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of RLI by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 25,815 shares of the insurance provider’s stock valued at $3,832,000 after purchasing an additional 128 shares during the last quarter. Argonautica Private Wealth Management Inc. increased its position in RLI by 5.1% during the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 2,762 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 134 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its stake in RLI by 3.2% in the 1st quarter. Resonant Capital Advisors LLC now owns 4,436 shares of the insurance provider’s stock valued at $659,000 after purchasing an additional 136 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Compass Point cut their price target on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $155.00 price objective on shares of RLI in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods lifted their target price on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group decreased their price target on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, RLI currently has a consensus rating of “Moderate Buy” and an average target price of $166.25.

RLI Price Performance

Shares of RLI stock opened at $152.22 on Tuesday. The stock has a market capitalization of $6.96 billion, a PE ratio of 21.02 and a beta of 0.41. The business’s 50 day simple moving average is $147.73 and its 200 day simple moving average is $145.15. RLI Corp. has a one year low of $125.77 and a one year high of $155.59.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.37. RLI had a net margin of 20.78% and a return on equity of 18.33%. The company had revenue of $416.44 million for the quarter, compared to analyst estimates of $561.60 million. During the same period in the prior year, the firm posted $1.16 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts expect that RLI Corp. will post 6.14 earnings per share for the current year.

RLI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, August 30th. This represents a $1.16 annualized dividend and a dividend yield of 0.76%. RLI’s payout ratio is 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.