Whittier Trust Co. raised its stake in RLI Corp. (NYSE:RLI) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 30,053 shares of the company’s stock after buying an additional 364 shares during the period. Whittier Trust Co.’s holdings in RLI Corp. were worth $2,067,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp boosted its position in RLI Corp. by 24.3% in the first quarter. State Street Corp now owns 5,555,070 shares of the company’s stock valued at $371,410,000 after buying an additional 1,085,597 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in RLI Corp. by 21.0% in the first quarter. Goldman Sachs Group Inc. now owns 819,554 shares of the company’s stock valued at $54,796,000 after buying an additional 142,244 shares in the last quarter. Palisade Capital Management LLC NJ boosted its position in RLI Corp. by 5.5% in the first quarter. Palisade Capital Management LLC NJ now owns 323,305 shares of the company’s stock valued at $21,616,000 after buying an additional 16,824 shares in the last quarter. Geode Capital Management LLC boosted its position in RLI Corp. by 8.1% in the first quarter. Geode Capital Management LLC now owns 257,396 shares of the company’s stock valued at $17,209,000 after buying an additional 19,191 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in RLI Corp. by 12.8% in the first quarter. Prudential Financial Inc. now owns 100,124 shares of the company’s stock valued at $6,694,000 after buying an additional 11,400 shares in the last quarter. 79.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of RLI Corp. (NYSE:RLI) traded up 0.50% on Friday, hitting $68.16. The stock had a trading volume of 129,301 shares. The stock has a market cap of $2.98 billion, a PE ratio of 23.18 and a beta of 0.91. RLI Corp. has a 12 month low of $55.32 and a 12 month high of $71.46. The stock has a 50 day moving average of $68.89 and a 200-day moving average of $66.96.
RLI Corp. (NYSE:RLI) last announced its earnings results on Tuesday, July 19th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. RLI Corp. had a return on equity of 12.24% and a net margin of 16.16%. The firm earned $196 million during the quarter, compared to analyst estimates of $208.20 million. During the same quarter in the prior year, the company earned $0.77 EPS. Equities research analysts anticipate that RLI Corp. will post $2.31 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Wednesday, August 31st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Monday, August 29th. RLI Corp.’s dividend payout ratio is currently 27.30%.
Separately, Zacks Investment Research raised RLI Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Five analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $59.75.
In related news, Director Robert P. Restrepo, Jr. acquired 600 shares of RLI Corp. stock in a transaction that occurred on Friday, August 26th. The stock was bought at an average price of $70.63 per share, with a total value of $42,378.00. Following the transaction, the director now directly owns 900 shares in the company, valued at $63,567. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Stone sold 907 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $67.39, for a total value of $61,122.73. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.
RLI Corp. Company Profile
RLI Corp. is a specialty insurance company. The Company operates through three segments: Casualty, Property and Surety. The Casualty segment consists of general liability, personal umbrella, transportation, executive products and commercial umbrella coverages, as well as package business and other specialty coverages.
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