Mutual of America Capital Management LLC Cuts Stock Holdings in RLI Corp. (NYSE:RLI)

Mutual of America Capital Management LLC decreased its holdings in shares of RLI Corp. (NYSE:RLI) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,810 shares of the insurance provider’s stock after selling 1,274 shares during the quarter. Mutual of America Capital Management LLC’s holdings in RLI were worth $3,303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. purchased a new position in shares of RLI during the fourth quarter worth about $25,000. Eagle Bay Advisors LLC purchased a new stake in RLI in the second quarter worth approximately $25,000. Compass Wealth Management LLC purchased a new stake in RLI in the fourth quarter worth approximately $32,000. Gladius Capital Management LP boosted its stake in RLI by 129.7% in the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after buying an additional 153 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in RLI in the third quarter worth approximately $60,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Keefe, Bruyette & Woods upped their target price on RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 target price on shares of RLI in a research note on Friday, January 26th.

RLI Stock Performance

NYSE:RLI opened at $135.70 on Thursday. The firm has a market cap of $6.20 billion, a PE ratio of 20.50 and a beta of 0.37. RLI Corp. has a fifty-two week low of $123.04 and a fifty-two week high of $149.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The business has a 50 day moving average price of $144.44 and a 200-day moving average price of $138.68.

RLI (NYSE:RLI) last released its quarterly earnings data on Tuesday, January 23rd. The insurance provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.10. The firm had revenue of $433.52 million during the quarter, compared to analyst estimates of $423.12 million. RLI had a return on equity of 17.02% and a net margin of 20.15%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.53 earnings per share. Equities research analysts predict that RLI Corp. will post 5.56 earnings per share for the current year.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Wednesday, February 28th. RLI’s payout ratio is 16.31%.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. 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.