Swiss National Bank Increases Position in RLI Corp (NYSE:RLI)

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Swiss National Bank raised its position in RLI Corp (NYSE:RLI) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,400 shares of the insurance provider’s stock after purchasing an additional 1,500 shares during the quarter. Swiss National Bank owned 0.16% of RLI worth $6,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RLI. JPMorgan Chase & Co. raised its position in RLI by 21.3% in the first quarter. JPMorgan Chase & Co. now owns 1,482,889 shares of the insurance provider’s stock valued at $106,397,000 after purchasing an additional 260,243 shares during the period. WINTON GROUP Ltd grew its stake in shares of RLI by 492.9% in the second quarter. WINTON GROUP Ltd now owns 58,039 shares of the insurance provider’s stock worth $4,975,000 after acquiring an additional 48,250 shares in the last quarter. Global Alpha Capital Management Ltd. grew its stake in shares of RLI by 24.2% in the first quarter. Global Alpha Capital Management Ltd. now owns 199,204 shares of the insurance provider’s stock worth $14,293,000 after acquiring an additional 38,800 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of RLI by 9.3% in the fourth quarter. Geode Capital Management LLC now owns 413,555 shares of the insurance provider’s stock worth $28,531,000 after acquiring an additional 35,029 shares in the last quarter. Finally, W.E. Donoghue & Co. LLC acquired a new position in shares of RLI in the second quarter worth $2,436,000. 88.48% of the stock is currently owned by institutional investors.

In related news, Director Michael J. Stone sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $91.94, for a total transaction of $1,379,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael J. Stone sold 1,433 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $85.61, for a total transaction of $122,679.13. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by company insiders.

Several equities analysts have commented on RLI shares. Zacks Investment Research upgraded shares of RLI from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Thursday, May 9th. Keefe, Bruyette & Woods boosted their price target on shares of RLI from $81.00 to $88.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada set a $84.00 price target on shares of RLI and gave the stock a “hold” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. RLI currently has an average rating of “Hold” and an average price target of $76.80.

RLI stock opened at $90.59 on Wednesday. The company’s 50 day simple moving average is $90.02 and its 200-day simple moving average is $81.29. The firm has a market capitalization of $4.02 billion, a PE ratio of 44.19 and a beta of 0.77. RLI Corp has a 12 month low of $64.48 and a 12 month high of $93.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.38 and a quick ratio of 0.38.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, July 17th. The insurance provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.58 by $0.08. RLI had a net margin of 13.63% and a return on equity of 11.34%. The business had revenue of $224.54 million for the quarter, compared to analyst estimates of $227.16 million. During the same period in the prior year, the business earned $0.60 earnings per share. As a group, sell-side analysts anticipate that RLI Corp will post 2.35 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.92 dividend on an annualized basis and a yield of 1.02%. RLI’s dividend payout ratio (DPR) is currently 44.88%.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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