Victory Capital Management Inc. trimmed its position in shares of RLI Corp. (NYSE:RLI – Get Rating) by 5.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,538 shares of the insurance provider’s stock after selling 11,315 shares during the period. Victory Capital Management Inc. owned approximately 0.46% of RLI worth $21,453,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in RLI. Bank of Montreal Can lifted its stake in 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 in the last quarter. Rhumbline Advisers lifted its stake in RLI by 2.2% during the first quarter. Rhumbline Advisers now owns 119,671 shares of the insurance provider’s stock worth $13,239,000 after purchasing an additional 2,620 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in RLI by 10.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,606 shares of the insurance provider’s stock worth $1,616,000 after purchasing an additional 1,405 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in RLI by 8.9% during the first quarter. Great West Life Assurance Co. Can now owns 22,212 shares of the insurance provider’s stock worth $2,528,000 after purchasing an additional 1,813 shares in the last quarter. Finally, Yousif Capital Management LLC raised its stake in shares of RLI by 2.7% in the first quarter. Yousif Capital Management LLC now owns 21,618 shares of the insurance provider’s stock valued at $2,392,000 after acquiring an additional 578 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
RLI has been the topic of several analyst reports. Compass Point reduced their price objective on RLI to $150.00 in a research note on Wednesday, October 5th. StockNews.com initiated coverage on RLI in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.
RLI Stock Performance
RLI Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 20th. Investors of record on Wednesday, November 30th were issued a $7.26 dividend. This represents a $29.04 annualized dividend and a yield of 21.86%. The ex-dividend date was Tuesday, November 29th. This is a positive change from RLI’s previous quarterly dividend of $0.26. RLI’s dividend payout ratio is 8.20%.
RLI Corp. operates as a holding company, which engages in the provision of insurance and underwriting services. It operates through the following segments: Casualty, Property and Surety. The Casualty segment offers healthcare and transportation insurance. The Property segment consists of commercial fire, earthquake, difference in conditions, marine, facultative and treaty reinsurance, including crop and select personal lines policies, including pet insurance and homeowners reinsurance services.
- Get a free copy of the StockNews.com research report on RLI (RLI)
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