Mutual of America Capital Management LLC Sells 900 Shares of RLI Corp. (NYSE:RLI)

Mutual of America Capital Management LLC reduced its position in shares of RLI Corp. (NYSE:RLI) by 3.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,033 shares of the insurance provider’s stock after selling 900 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of RLI worth $3,241,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. American National Bank purchased a new position in RLI in the 2nd quarter worth about $35,000. Riverview Trust Co purchased a new position in shares of RLI during the 1st quarter valued at about $44,000. Intelligent Financial Strategies bought a new position in shares of RLI during the 1st quarter valued at approximately $45,000. Benjamin F. Edwards & Company Inc. increased its holdings in RLI by 468.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 253 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in RLI during the 1st quarter worth approximately $73,000. 77.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

RLI Trading Up 0.9 %

Shares of NYSE RLI opened at $154.06 on Tuesday. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 21.28 and a beta of 0.41. RLI Corp. has a 12-month low of $125.77 and a 12-month high of $155.59. The firm’s 50-day moving average price is $149.10 and its 200-day moving average price is $145.37.

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

RLI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders 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 annualized dividend and a dividend yield of 0.75%. RLI’s dividend payout ratio (DPR) is presently 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.