RLI Corp. (NYSE:RLI) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC raised its holdings in RLI Corp. (NYSE:RLI) by 4.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 214,265 shares of the insurance provider’s stock after acquiring an additional 8,371 shares during the quarter. ProShare Advisors LLC owned 0.47% of RLI worth $30,145,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Creekmur Asset Management LLC acquired a new stake in shares of RLI in the fourth quarter valued at about $1,024,000. Russell Investments Group Ltd. boosted its stake in shares of RLI by 585.0% during the 1st quarter. Russell Investments Group Ltd. now owns 41,649 shares of the insurance provider’s stock worth $6,184,000 after acquiring an additional 35,569 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of RLI by 52.2% during the 1st quarter. BNP Paribas Financial Markets now owns 11,645 shares of the insurance provider’s stock worth $1,729,000 after acquiring an additional 3,993 shares in the last quarter. Maren Capital LLC purchased a new position in RLI in the 4th quarter valued at approximately $67,149,000. Finally, Cetera Advisors LLC purchased a new position in RLI in the 1st quarter valued at approximately $515,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

RLI Trading Down 0.5 %

NYSE:RLI opened at $152.62 on Monday. RLI Corp. has a 12-month low of $125.77 and a 12-month high of $155.59. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 21.08 and a beta of 0.41. The company’s 50-day moving average is $148.86 and its two-hundred day moving average is $145.31.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 earnings per share 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 business had revenue of $416.44 million during the quarter, compared to analyst estimates of $561.60 million. During the same quarter in the previous year, the business posted $1.16 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that RLI Corp. will post 6.14 earnings per share for the current fiscal year.

RLI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, August 30th. RLI’s dividend payout ratio (DPR) 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.