Personal Capital Advisors Corp lifted its holdings in RLI Corp. (NYSE:RLI – Get Rating) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,696 shares of the insurance provider’s stock after buying an additional 4,450 shares during the quarter. Personal Capital Advisors Corp owned 0.27% of RLI worth $13,463,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in shares of RLI by 44.0% in the first quarter. Parallel Advisors LLC now owns 350 shares of the insurance provider’s stock valued at $39,000 after buying an additional 107 shares in the last quarter. HM Payson & Co. purchased a new stake in shares of RLI in the first quarter valued at approximately $40,000. Covestor Ltd purchased a new stake in shares of RLI in the fourth quarter valued at approximately $56,000. Simplex Trading LLC purchased a new stake in shares of RLI in the first quarter valued at approximately $81,000. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of RLI in the first quarter valued at approximately $89,000. 81.15% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Raymond James started coverage on RLI in a research note on Tuesday, June 7th. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $121.25.
RLI Stock Performance
RLI (NYSE:RLI – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The insurance provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.47. The firm had revenue of $213.09 million during the quarter, compared to analysts’ expectations of $299.99 million. RLI had a return on equity of 18.86% and a net margin of 15.88%. RLI’s revenue was down 28.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. Sell-side analysts forecast that RLI Corp. will post 4.85 earnings per share for the current fiscal year.
RLI Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Wednesday, August 31st will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.92%. RLI’s dividend payout ratio (DPR) is 27.96%.
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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