JPMorgan Chase & Co. Sells 249,416 Shares of RLI Corp. (NYSE:RLI)

JPMorgan Chase & Co. lessened its holdings in shares of RLI Corp. (NYSE:RLIGet Rating) by 14.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,467,604 shares of the insurance provider’s stock after selling 249,416 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.23% of RLI worth $171,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Aigen Investment Management LP raised its holdings in RLI by 50.5% in the second quarter. Aigen Investment Management LP now owns 4,983 shares of the insurance provider’s stock worth $581,000 after purchasing an additional 1,672 shares in the last quarter. HighTower Advisors LLC raised its holdings in RLI by 3.0% in the first quarter. HighTower Advisors LLC now owns 24,352 shares of the insurance provider’s stock worth $2,694,000 after purchasing an additional 700 shares in the last quarter. Van ECK Associates Corp raised its holdings in RLI by 15.9% in the first quarter. Van ECK Associates Corp now owns 1,052 shares of the insurance provider’s stock worth $116,000 after purchasing an additional 144 shares in the last quarter. Texas Permanent School Fund raised its holdings in RLI by 2.0% in the second quarter. Texas Permanent School Fund now owns 28,823 shares of the insurance provider’s stock worth $3,360,000 after purchasing an additional 568 shares in the last quarter. Finally, Destiny Wealth Partners LLC raised its holdings in RLI by 118.8% in the second quarter. Destiny Wealth Partners LLC now owns 1,932 shares of the insurance provider’s stock worth $225,000 after purchasing an additional 1,049 shares in the last quarter. Institutional investors own 81.15% of the company’s stock.

Analyst Ratings Changes

RLI has been the subject of a number of research reports. Compass Point decreased their price objective on RLI to $150.00 in a report on Wednesday, October 5th. StockNews.com began coverage on RLI in a report on Wednesday, October 12th. They set a “hold” rating for the company.

RLI Trading Up 0.0 %

RLI stock opened at $130.25 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.56 and a quick ratio of 0.56. RLI Corp. has a one year low of $96.22 and a one year high of $134.80. The stock has a market capitalization of $5.91 billion, a PE ratio of 10.26 and a beta of 0.46. The business’s fifty day moving average is $115.88 and its 200 day moving average is $114.94.

RLI (NYSE:RLIGet Rating) last released its quarterly earnings data on Thursday, October 20th. The insurance provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.39). RLI had a net margin of 34.98% and a return on equity of 17.73%. During the same period in the previous year, the firm earned $0.65 EPS. On average, sell-side analysts predict that RLI Corp. will post 4.49 EPS for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Wednesday, November 30th will be given a dividend of $7.26 per share. The ex-dividend date is Tuesday, November 29th. This is a boost from RLI’s previous quarterly dividend of $0.26. This represents a $29.04 annualized dividend and a dividend yield of 22.30%. RLI’s dividend payout ratio (DPR) is 8.20%.

RLI Profile

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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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