Capital Fund Management S.A. Makes New Investment in RLI Corp. $RLI

Capital Fund Management S.A. bought a new stake in RLI Corp. (NYSE:RLI) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,362 shares of the insurance provider’s stock, valued at approximately $965,000.

Several other hedge funds have also made changes to their positions in RLI. Caitong International Asset Management Co. Ltd increased its position in RLI by 7,300.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 365 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in RLI by 100.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 198 shares during the period. Chung Wu Investment Group LLC purchased a new position in shares of RLI in the 2nd quarter valued at approximately $29,000. Hantz Financial Services Inc. grew its stake in shares of RLI by 3,645.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 401 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of RLI in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RLI. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLI in a report on Wednesday, October 8th. Truist Financial set a $62.00 price objective on shares of RLI and gave the stock a “hold” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $72.80.

RLI Price Performance

RLI stock opened at $62.47 on Friday. The company has a market cap of $5.74 billion, a P/E ratio of 16.40 and a beta of 0.56. RLI Corp. has a one year low of $57.75 and a one year high of $86.71. The business has a fifty day moving average of $62.31 and a two-hundred day moving average of $67.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35.

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

RLI Dividend Announcement

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

RLI Company 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.