American Century Companies Inc. Grows Stock Position in RLI Corp. (NYSE:RLI)

American Century Companies Inc. boosted its position in RLI Corp. (NYSE:RLI) by 25.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,139 shares of the insurance provider’s stock after buying an additional 20,809 shares during the period. American Century Companies Inc. owned approximately 0.23% of RLI worth $14,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RLI. BNP Paribas Financial Markets boosted its holdings in RLI by 14.3% in the 4th quarter. BNP Paribas Financial Markets now owns 7,652 shares of the insurance provider’s stock valued at $1,019,000 after purchasing an additional 959 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of RLI by 3.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 3,259 shares of the insurance provider’s stock valued at $434,000 after buying an additional 99 shares in the last quarter. Norges Bank acquired a new position in RLI during the fourth quarter worth $52,592,000. Corient Private Wealth LLC raised its position in RLI by 63.8% in the fourth quarter. Corient Private Wealth LLC now owns 20,500 shares of the insurance provider’s stock worth $2,729,000 after acquiring an additional 7,982 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of RLI during the 4th quarter worth $369,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Stock Down 0.5 %

Shares of RLI stock opened at $152.62 on Friday. The firm has a market cap of $6.98 billion, a PE ratio of 21.08 and a beta of 0.41. RLI Corp. has a fifty-two week low of $125.77 and a fifty-two week high of $155.59. The business’s fifty day moving average is $148.86 and its two-hundred day moving average is $145.33.

RLI (NYSE:RLI) last released its earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.37. The firm had revenue of $416.44 million for the quarter, compared to the consensus estimate of $561.60 million. RLI had a return on equity of 18.33% and a net margin of 20.78%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. Equities research analysts anticipate that RLI Corp. will post 6.14 EPS for the current year.

RLI Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RLI shares. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $155.00 price target on shares of RLI in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods raised their price target on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. 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. Finally, Compass Point cut their target price on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, RLI has an average rating of “Moderate Buy” and a consensus price target of $166.25.

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.