WINTON GROUP Ltd Invests $5.76 Million in RLI Corp. $RLI

WINTON GROUP Ltd acquired a new stake in shares of RLI Corp. (NYSE:RLI) in the second quarter, HoldingsChannel.com reports. The fund acquired 97,598 shares of the insurance provider’s stock, valued at approximately $5,765,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RLI. Wasatch Advisors LP raised its stake in shares of RLI by 33.1% in the first quarter. Wasatch Advisors LP now owns 2,579,955 shares of the insurance provider’s stock worth $147,161,000 after buying an additional 641,769 shares during the period. Chase Investment Counsel Corp purchased a new position in shares of RLI during the 4th quarter valued at about $1,535,000. California State Teachers Retirement System grew its stake in shares of RLI by 26.7% during the 1st quarter. California State Teachers Retirement System now owns 100,297 shares of the insurance provider’s stock valued at $5,721,000 after acquiring an additional 21,136 shares during the period. Bank of America Corp DE grew its stake in shares of RLI by 37.0% during the 1st quarter. Bank of America Corp DE now owns 282,656 shares of the insurance provider’s stock valued at $16,123,000 after acquiring an additional 76,413 shares during the period. Finally, Argent Capital Management LLC increased its holdings in RLI by 233.6% in the 1st quarter. Argent Capital Management LLC now owns 374,447 shares of the insurance provider’s stock worth $21,358,000 after acquiring an additional 262,218 shares in the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings upgraded shares of RLI from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 28th. Jefferies Financial Group downgraded shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 target price for the company. in a report on Tuesday, August 25th. Wells Fargo & Company lowered RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 price target for the company. in a research note on Wednesday, July 29th. Wall Street Zen upgraded RLI from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $74.00 price objective (up from $70.00) on shares of RLI in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, RLI currently has a consensus rating of “Reduce” and a consensus price target of $63.20.

RLI Stock Down 1.3%

RLI stock opened at $60.40 on Friday. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 12.69 and a beta of 0.38. The firm’s fifty day moving average is $62.63 and its 200 day moving average is $58.22. RLI Corp. has a 52-week low of $47.26 and a 52-week high of $67.32.

RLI (NYSE:RLI) last announced its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. RLI had a net margin of 22.22% and a return on equity of 17.61%. The firm had revenue of $575.57 million for the quarter, compared to analysts’ expectations of $568.70 million. During the same period in the prior year, the company earned $0.82 EPS. The business’s revenue was up 15.2% compared to the same quarter last year. On average, equities research analysts anticipate that RLI Corp. will post 2.88 earnings per share for the current fiscal year.

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.18 per share. The ex-dividend date is Monday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. RLI’s dividend payout ratio is 15.13%.

RLI Company Profile

RLI Corp. is a specialty property and casualty insurance company headquartered in Peoria, Illinois. Through its subsidiaries, the company underwrites a broad range of insurance products for commercial and personal customers, with an emphasis on specialized risks that may not be fully addressed by standard insurance carriers.

RLI’s products include commercial property and casualty coverage, transportation and marine insurance, surety bonds, workers’ compensation, professional liability, and personal umbrella insurance.