MetLife Investment Management LLC Has $5.10 Million Holdings in RLI Corp. (NYSE:RLI)

MetLife Investment Management LLC lifted its holdings in shares of RLI Corp. (NYSE:RLIGet Rating) by 40.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,074 shares of the insurance provider’s stock after purchasing an additional 13,197 shares during the period. MetLife Investment Management LLC owned 0.10% of RLI worth $5,097,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Martingale Asset Management L P lifted its holdings in shares of RLI by 2.0% during the first quarter. Martingale Asset Management L P now owns 19,988 shares of the insurance provider’s stock worth $2,212,000 after purchasing an additional 401 shares during the period. HM Payson & Co. acquired a new position in shares of RLI during the first quarter worth $40,000. Bank of Montreal Can lifted its holdings in shares of RLI by 3.1% during the first quarter. Bank of Montreal Can now owns 3,928 shares of the insurance provider’s stock worth $442,000 after purchasing an additional 119 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of RLI by 10.2% during the first quarter. Natixis Advisors L.P. now owns 156,452 shares of the insurance provider’s stock worth $17,308,000 after purchasing an additional 14,450 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of RLI during the first quarter worth $897,000. Institutional investors and hedge funds own 81.15% of the company’s stock.

RLI Price Performance

RLI stock opened at $109.12 on Tuesday. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 29.33 and a beta of 0.34. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.19. RLI Corp. has a 12-month low of $96.22 and a 12-month high of $121.93. The company’s fifty day simple moving average is $113.84 and its 200 day simple moving average is $111.95.

RLI (NYSE:RLIGet Rating) last released its earnings results on Wednesday, July 20th. The insurance provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.47. The business had revenue of $213.09 million for the quarter, compared to analyst estimates of $299.99 million. RLI had a net margin of 15.88% and a return on equity of 18.86%. RLI’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share. On average, analysts expect that RLI Corp. will post 4.85 earnings per share for the current year.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Wednesday, August 31st will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, August 30th. RLI’s dividend payout ratio (DPR) is currently 27.96%.

Analyst Ratings Changes

Separately, Raymond James started coverage on shares of RLI in a report on Tuesday, June 7th. They set a “market perform” rating on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.25.

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.

See Also

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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