RLI Corp. $RLI Shares Sold by Aviva PLC

Aviva PLC decreased its holdings in RLI Corp. (NYSE:RLI) by 16.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,781 shares of the insurance provider’s stock after selling 1,295 shares during the quarter. Aviva PLC’s holdings in RLI were worth $490,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of RLI. Prospera Financial Services Inc grew its holdings in shares of RLI by 0.7% in the 2nd quarter. Prospera Financial Services Inc now owns 151,387 shares of the insurance provider’s stock worth $10,933,000 after acquiring an additional 1,105 shares during the last quarter. AGF Management Ltd. boosted its position in shares of RLI by 12.4% in the 2nd quarter. AGF Management Ltd. now owns 39,948 shares of the insurance provider’s stock valued at $2,885,000 after purchasing an additional 4,419 shares during the period. Summit Investment Advisors Inc. increased its stake in RLI by 96.5% in the 1st quarter. Summit Investment Advisors Inc. now owns 16,408 shares of the insurance provider’s stock worth $1,318,000 after purchasing an additional 8,056 shares in the last quarter. Savant Capital LLC raised its holdings in RLI by 8.8% during the 2nd quarter. Savant Capital LLC now owns 17,255 shares of the insurance provider’s stock worth $1,246,000 after buying an additional 1,397 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in RLI during the 2nd quarter worth about $61,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Price Performance

Shares of NYSE:RLI opened at $63.22 on Friday. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 16.59 and a beta of 0.61. RLI Corp. has a 1 year low of $57.75 and a 1 year high of $91.14. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $63.14 and a 200 day simple moving average of $68.41.

RLI (NYSE:RLI) last issued its earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The company had revenue of $509.26 million for the quarter, compared to analyst estimates of $444.75 million. During the same period in the prior year, the firm posted $1.31 EPS. As a group, sell-side analysts predict that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, November 28th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, November 28th. RLI’s dividend payout ratio (DPR) is presently 16.80%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. Finally, Truist Financial set a $62.00 target price on shares of RLI and gave the company a “hold” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $72.80.

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.