Federated Hermes Inc. Lowers Stock Holdings in RLI Corp. (NYSE:RLI)

Federated Hermes Inc. reduced its position in shares of RLI Corp. (NYSE:RLI) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,374 shares of the insurance provider’s stock after selling 1,584 shares during the period. Federated Hermes Inc. owned about 0.22% of RLI worth $13,495,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. purchased a new position in shares of RLI during the fourth quarter worth $25,000. Gladius Capital Management LP boosted its holdings in RLI by 129.7% in the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 153 shares during the period. Quantbot Technologies LP purchased a new position in RLI in the third quarter valued at $60,000. Impact Partnership Wealth LLC purchased a new position in RLI in the third quarter valued at $127,000. Finally, Duncker Streett & Co. Inc. purchased a new position in RLI in the fourth quarter valued at $127,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Stock Up 0.7 %

RLI stock opened at $141.25 on Tuesday. RLI Corp. has a 1-year low of $123.04 and a 1-year high of $149.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market cap of $6.46 billion, a PE ratio of 21.34 and a beta of 0.37. The stock’s fifty day moving average is $144.42 and its two-hundred day moving average is $138.79.

RLI (NYSE:RLI) last posted its quarterly earnings results 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. RLI had a return on equity of 17.02% and a net margin of 20.15%. The company had revenue of $433.52 million for the quarter, compared to analysts’ expectations of $423.12 million. During the same period last year, the firm earned $1.53 earnings per share. RLI’s quarterly revenue was up 20.2% on a year-over-year basis. On average, sell-side analysts expect that RLI Corp. will post 5.56 EPS for the current fiscal year.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders 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 0.76%. The ex-dividend date was Wednesday, February 28th. RLI’s dividend payout ratio is presently 16.31%.

Analysts Set New Price Targets

A number of research firms recently issued reports on RLI. Keefe, Bruyette & Woods lifted their target price on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 target price on shares of RLI in a report on Friday, January 26th.

RLI 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.