RLI Corp. (NYSE:RLI) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. lowered its stake in shares of RLI Corp. (NYSE:RLIFree Report) by 50.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,880 shares of the insurance provider’s stock after selling 28,339 shares during the quarter. Eagle Asset Management Inc. owned about 0.06% of RLI worth $3,711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Blue Trust Inc. acquired a new stake in RLI during the 4th quarter worth approximately $25,000. Gladius Capital Management LP increased its position in RLI by 129.7% during the 3rd quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 153 shares in the last quarter. GAMMA Investing LLC acquired a new stake in RLI during the 4th quarter worth approximately $41,000. Quantbot Technologies LP acquired a new stake in RLI during the 3rd quarter worth approximately $60,000. Finally, TFO Wealth Partners LLC increased its position in RLI by 31,950.0% during the 4th quarter. TFO Wealth Partners LLC now owns 641 shares of the insurance provider’s stock worth $85,000 after purchasing an additional 639 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on RLI

RLI Price Performance

Shares of NYSE RLI opened at $143.00 on Wednesday. RLI Corp. has a 1-year low of $125.60 and a 1-year high of $149.20. The business’s fifty day moving average price is $144.23 and its two-hundred day moving average price is $141.10. The firm has a market capitalization of $6.54 billion, a PE ratio of 19.75 and a beta of 0.41.

RLI (NYSE:RLIGet Free Report) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. The company had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. RLI had a return on equity of 17.24% and a net margin of 20.96%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company earned $1.63 earnings per share. Equities research analysts expect that RLI Corp. will post 5.84 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders 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 dividend yield of 0.81%. This is a positive change from RLI’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, May 31st. RLI’s dividend payout ratio (DPR) is 16.02%.

RLI Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding RLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RLI Corp. (NYSE:RLIFree Report).

Institutional Ownership by Quarter for RLI (NYSE:RLI)

Receive News & Ratings for RLI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLI and related companies with MarketBeat.com's FREE daily email newsletter.