8,924 RLI Corp. $RLI Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC raised its holdings in shares of RLI Corp. (NYSE:RLI) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 463,383 shares of the insurance provider’s stock after purchasing an additional 8,924 shares during the quarter. ProShare Advisors LLC owned 0.51% of RLI worth $25,630,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RLI. Versant Capital Management Inc grew its position in RLI by 28.5% in the second quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 185 shares in the last quarter. Farther Finance Advisors LLC increased its stake in RLI by 62.1% during the third quarter. Farther Finance Advisors LLC now owns 629 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 241 shares during the last quarter. GAMMA Investing LLC raised its position in RLI by 4.6% during the second quarter. GAMMA Investing LLC now owns 5,534 shares of the insurance provider’s stock valued at $327,000 after purchasing an additional 242 shares during the period. Signaturefd LLC raised its position in RLI by 9.8% during the third quarter. Signaturefd LLC now owns 3,723 shares of the insurance provider’s stock valued at $206,000 after purchasing an additional 333 shares during the period. Finally, State of Michigan Retirement System raised its position in RLI by 1.8% during the first quarter. State of Michigan Retirement System now owns 22,132 shares of the insurance provider’s stock valued at $1,262,000 after purchasing an additional 400 shares during the period. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Performance

Shares of RLI stock opened at $67.45 on Tuesday. RLI Corp. has a 52-week low of $47.26 and a 52-week high of $67.65. The firm has a market capitalization of $6.19 billion, a P/E ratio of 15.72 and a beta of 0.36. The stock has a 50 day moving average price of $60.71 and a 200 day moving average price of $58.73.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, October 19th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.32. The company had revenue of $476.96 million during the quarter, compared to analysts’ expectations of $533.51 million. RLI had a return on equity of 18.19% and a net margin of 20.34%. During the same quarter in the previous year, the business earned $0.83 EPS. As a group, sell-side analysts forecast that RLI Corp. will post 3.15 EPS for the current year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, August 31st. RLI’s dividend payout ratio is currently 16.78%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RLI. UBS Group set a $74.00 price target on RLI in a research report on Tuesday, July 28th. Weiss Ratings raised shares of RLI from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 28th. Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Jefferies Financial Group lowered 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. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 target price (up from $69.00) on shares of RLI in a report on Wednesday, October 21st. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $62.40.

RLI Company Profile

RLI Corp. (NYSE: RLI) is a specialty insurance company that underwrites property and casualty insurance products for commercial and personal customers. The company focuses on specialized risks that may not be adequately served by standard insurance carriers.

RLI’s offerings include commercial property and casualty coverage, professional liability insurance, surety bonds, transportation-related insurance, and personal lines such as homeowners and personal umbrella coverage. Its products are distributed through independent agents, brokers, and other insurance intermediaries.

Founded in 1965 and headquartered in Peoria, Illinois, RLI serves customers primarily throughout the United States.