Parallel Advisors LLC Grows Holdings in RLI Corp. (NYSE:RLI)

Parallel Advisors LLC grew its stake in RLI Corp. (NYSE:RLIGet Rating) by 44.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 350 shares of the insurance provider’s stock after buying an additional 107 shares during the quarter. Parallel Advisors LLC’s holdings in RLI were worth $39,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RLI. Eaton Vance Management grew its stake in RLI by 25.3% in the 4th quarter. Eaton Vance Management now owns 477,774 shares of the insurance provider’s stock worth $53,032,000 after buying an additional 96,527 shares in the last quarter. State Street Corp boosted its stake in shares of RLI by 0.9% in the 4th quarter. State Street Corp now owns 4,633,461 shares of the insurance provider’s stock valued at $519,411,000 after purchasing an additional 39,475 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its stake in shares of RLI by 40.2% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 120,013 shares of the insurance provider’s stock valued at $13,453,000 after purchasing an additional 34,400 shares in the last quarter. Karani Asset Management LLC boosted its stake in shares of RLI by 70.7% in the 4th quarter. Karani Asset Management LLC now owns 74,228 shares of the insurance provider’s stock valued at $8,321,000 after purchasing an additional 30,742 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in shares of RLI by 14.6% in the 4th quarter. Royce & Associates LP now owns 192,730 shares of the insurance provider’s stock valued at $21,605,000 after purchasing an additional 24,534 shares in the last quarter. Hedge funds and other institutional investors own 80.16% of the company’s stock.

RLI Trading Down 3.1 %

Shares of RLI opened at $112.20 on Friday. The stock has a market capitalization of $5.08 billion, a P/E ratio of 30.16 and a beta of 0.41. The company has a quick ratio of 0.42, a current ratio of 0.43 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $115.31 and a two-hundred day simple moving average of $110.51. RLI Corp. has a twelve month low of $96.22 and a twelve month high of $121.93.

RLI (NYSE:RLIGet Rating) last issued its quarterly earnings data on Wednesday, July 20th. The insurance provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.07 by $0.42. RLI had a net margin of 15.88% and a return on equity of 18.86%. The business had revenue of $213.09 million during the quarter, compared to analyst estimates of $299.99 million. During the same period in the prior year, the business earned $1.09 EPS. The company’s revenue for the quarter was down 28.5% on a year-over-year basis. On average, research analysts anticipate that RLI Corp. will post 4.38 EPS for the current year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 21st. Shareholders of record on Tuesday, May 31st were issued a $0.26 dividend. The ex-dividend date was Friday, May 27th. This is a positive change from RLI’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.93%. RLI’s dividend payout ratio is 27.96%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of RLI from $112.00 to $123.00 and gave the company a “sector perform” rating in a research note on Friday, April 22nd. Raymond James started coverage on shares of RLI in a research report on Tuesday, June 7th. They set a “market perform” rating for the company. Finally, StockNews.com started coverage on shares of RLI in a research report on Thursday, March 31st. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.25.

Insiders Place Their Bets

In other RLI news, Director Jordan W. Graham sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $119.88, for a total value of $119,880.00. Following the completion of the transaction, the director now directly owns 6,220 shares in the company, valued at approximately $745,653.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.09% of the company’s stock.

About RLI

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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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