RLI Corp. (NYSE:RLI) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in shares of RLI Corp. (NYSE:RLI) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 809,389 shares of the insurance provider’s stock after selling 5,498 shares during the quarter. Thrivent Financial for Lutherans owned about 1.77% of RLI worth $113,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. American National Bank acquired a new stake in RLI in the second quarter worth $35,000. Riverview Trust Co acquired a new position in RLI during the 1st quarter valued at about $44,000. Intelligent Financial Strategies bought a new position in RLI in the 1st quarter worth about $45,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of RLI by 468.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 253 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in shares of RLI during the first quarter valued at approximately $73,000. Institutional investors own 77.89% of the company’s stock.

Analysts Set New Price Targets

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

RLI Trading Down 0.5 %

Shares of RLI stock opened at $152.66 on Friday. RLI Corp. has a 52 week low of $125.77 and a 52 week high of $155.59. The stock has a market cap of $6.98 billion, a PE ratio of 21.09 and a beta of 0.41. The company’s 50-day moving average price is $148.86 and its two-hundred day moving average price is $145.35.

RLI (NYSE:RLI) last released its earnings results on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.35 by $0.37. The business had revenue of $416.44 million during the quarter, compared to analyst estimates of $561.60 million. RLI had a net margin of 20.78% and a return on equity of 18.33%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 earnings per share. On average, equities analysts predict that RLI Corp. will post 6.14 EPS for the current fiscal year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, August 30th. RLI’s dividend payout ratio (DPR) is presently 16.02%.

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.