Strs Ohio Invests $1.74 Million in RLI Corp. $RLI

Strs Ohio purchased a new position in shares of RLI Corp. (NYSE:RLI) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,667 shares of the insurance provider’s stock, valued at approximately $1,741,000.

Other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its position in RLI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider’s stock worth $30,000 after buying an additional 186 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of RLI by 100.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 198 shares during the period. Versant Capital Management Inc increased its holdings in shares of RLI by 100.0% in the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 203 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of RLI by 88.5% in the first quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 224 shares during the period. Finally, Compass Wealth Management LLC increased its holdings in shares of RLI by 100.0% in the first quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 240 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, RLI presently has an average rating of “Hold” and an average price target of $78.60.

Insider Buying and Selling at RLI

In related news, COO Jennifer L. Klobnak purchased 3,000 shares of the business’s stock in a transaction dated Thursday, July 24th. The stock was bought at an average cost of $69.15 per share, with a total value of $207,450.00. Following the completion of the acquisition, the chief operating officer directly owned 98,450 shares in the company, valued at $6,807,817.50. The trade was a 3.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.16% of the stock is currently owned by company insiders.

RLI Stock Down 1.1%

RLI opened at $65.22 on Wednesday. The business’s fifty day moving average is $67.80 and its two-hundred day moving average is $72.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 18.69 and a beta of 0.65. RLI Corp. has a one year low of $64.74 and a one year high of $91.14.

RLI (NYSE:RLI) last posted its earnings results on Monday, July 21st. The insurance provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $562.28 million for the quarter, compared to the consensus estimate of $445.55 million. RLI had a return on equity of 15.82% and a net margin of 17.81%.RLI’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.72 earnings per share. Analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 29th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 29th. RLI’s payout ratio is 18.34%.

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.