RLI Corp. (NYSE:RLI) Stock Holdings Lessened by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of RLI Corp. (NYSE:RLI) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,053 shares of the insurance provider’s stock after selling 1,500 shares during the period. Amalgamated Bank’s holdings in RLI were worth $3,468,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Los Angeles Capital Management LLC grew its holdings in shares of RLI by 65.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 203,046 shares of the insurance provider’s stock valued at $27,029,000 after purchasing an additional 80,451 shares during the last quarter. New York Life Investment Management LLC increased its position in RLI by 6.7% in the fourth quarter. New York Life Investment Management LLC now owns 4,577 shares of the insurance provider’s stock worth $609,000 after buying an additional 289 shares during the period. Victory Capital Management Inc. lifted its stake in RLI by 2.3% in the fourth quarter. Victory Capital Management Inc. now owns 145,443 shares of the insurance provider’s stock valued at $19,361,000 after buying an additional 3,269 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of RLI by 39.1% during the fourth quarter. Van ECK Associates Corp now owns 13,837 shares of the insurance provider’s stock valued at $1,842,000 after acquiring an additional 3,892 shares during the period. Finally, Retirement Systems of Alabama grew its position in shares of RLI by 20.8% during the fourth quarter. Retirement Systems of Alabama now owns 111,886 shares of the insurance provider’s stock worth $14,894,000 after acquiring an additional 19,286 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Compass Point lifted their price objective on shares of RLI from $158.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods raised their target price on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Royal Bank of Canada increased their price target on RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 24th. Finally, JMP Securities restated a “market perform” rating on shares of RLI in a research note on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.25.

RLI Stock Performance

Shares of NYSE RLI opened at $146.96 on Friday. RLI Corp. has a 1 year low of $123.04 and a 1 year high of $149.20. The stock has a fifty day moving average price of $144.63 and a two-hundred day moving average price of $139.55. The firm has a market cap of $6.72 billion, a P/E ratio of 20.30 and a beta of 0.37.

RLI (NYSE:RLI) last released its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. RLI had a return on equity of 17.24% and a net margin of 20.96%. The firm had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. During the same period in the previous year, the company earned $1.63 earnings per share. RLI’s revenue was up 21.9% compared to the same quarter last year. On average, research analysts predict that RLI Corp. will post 5.74 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, May 31st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.79%. This is a boost from RLI’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, May 31st. RLI’s dividend payout ratio (DPR) is presently 16.02%.

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.