Lazard Asset Management LLC Reduces Stock Position in RLI Corp. (NYSE:RLI)

Lazard Asset Management LLC decreased its holdings in RLI Corp. (NYSE:RLIGet Rating) by 87.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,084 shares of the insurance provider’s stock after selling 7,843 shares during the quarter. Lazard Asset Management LLC’s holdings in RLI were worth $126,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HM Payson & Co. purchased a new stake in RLI in the 1st quarter valued at about $40,000. Parallel Advisors LLC grew its holdings in RLI by 30.3% in the 2nd quarter. Parallel Advisors LLC now owns 456 shares of the insurance provider’s stock valued at $53,000 after buying an additional 106 shares during the period. Simplex Trading LLC purchased a new stake in RLI in the 1st quarter valued at about $81,000. Covestor Ltd grew its holdings in RLI by 52.4% in the 1st quarter. Covestor Ltd now owns 759 shares of the insurance provider’s stock valued at $84,000 after buying an additional 261 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new stake in RLI in the 1st quarter valued at about $89,000. Hedge funds and other institutional investors own 81.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on RLI shares. Compass Point lowered their price target 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 Stock Up 1.6 %

Shares of NYSE:RLI opened at $132.74 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.56 and a current ratio of 0.56. RLI Corp. has a 1 year low of $96.22 and a 1 year high of $134.80. The stock has a market capitalization of $6.02 billion, a P/E ratio of 10.46 and a beta of 0.46. The stock has a 50-day simple moving average of $116.64 and a 200-day simple moving average of $115.15.

RLI (NYSE:RLIGet Rating) last issued its earnings results on Thursday, October 20th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.39). RLI had a return on equity of 17.73% and a net margin of 34.98%. During the same period in the previous year, the firm posted $0.65 EPS. Equities analysts forecast that RLI Corp. will post 4.49 earnings per share for the current year.

RLI Increases Dividend

The business also recently declared 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 positive change from RLI’s previous quarterly dividend of $0.26. This represents a $29.04 annualized dividend and a yield of 21.88%. RLI’s payout ratio 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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