Parallel Advisors LLC Sells 638 Shares of RLI Corp. (NYSE:RLI)

Parallel Advisors LLC cut its position in shares of RLI Corp. (NYSE:RLIFree Report) by 63.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 368 shares of the insurance provider’s stock after selling 638 shares during the quarter. Parallel Advisors LLC’s holdings in RLI were worth $49,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new position in shares of RLI during the 4th quarter worth about $25,000. Gladius Capital Management LP raised its position 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 purchasing an additional 153 shares in the last quarter. GAMMA Investing LLC bought a new position in RLI during the fourth quarter worth about $41,000. Quantbot Technologies LP acquired a new stake in RLI during the third quarter valued at approximately $60,000. Finally, Duncker Streett & Co. Inc. bought a new stake in shares of RLI in the 4th quarter valued at approximately $127,000. 77.89% of the stock is currently owned by institutional investors.

RLI Price Performance

RLI opened at $142.29 on Friday. The stock has a market capitalization of $6.50 billion, a P/E ratio of 19.65 and a beta of 0.41. The company’s 50 day simple moving average is $143.86 and its 200-day simple moving average is $141.17. RLI Corp. has a one year low of $125.77 and a one year high of $149.20.

RLI (NYSE:RLIGet Free Report) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.26. The firm had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. RLI had a return on equity of 17.24% and a net margin of 20.96%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 EPS. As a group, analysts anticipate that RLI Corp. will post 5.84 EPS for the current year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, May 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.82%. This is a positive change 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%.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on RLI

About RLI

(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.

Featured Articles

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.