RLI Corp. (NYSE:RLI) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in shares of RLI Corp. (NYSE:RLI) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,325 shares of the insurance provider’s stock after selling 435 shares during the quarter. State of Alaska Department of Revenue’s holdings in RLI were worth $841,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Blue Trust Inc. acquired a new position in shares of RLI during the 4th quarter worth about $25,000. Nepsis Inc. acquired a new stake in shares of RLI in the 4th quarter valued at about $9,424,000. Pacer Advisors Inc. boosted its position in shares of RLI by 32.4% in the 4th quarter. Pacer Advisors Inc. now owns 8,756 shares of the insurance provider’s stock valued at $1,166,000 after purchasing an additional 2,141 shares during the period. SG Americas Securities LLC boosted its position in shares of RLI by 24.7% in the 4th quarter. SG Americas Securities LLC now owns 6,732 shares of the insurance provider’s stock valued at $896,000 after purchasing an additional 1,332 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. acquired a new stake in shares of RLI in the 4th quarter valued at about $630,000. 77.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RLI shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 target price on shares of RLI in a research report on Friday, January 26th. Keefe, Bruyette & Woods upped their target price on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday.

RLI Stock Performance

Shares of RLI stock opened at $141.52 on Thursday. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 21.38 and a beta of 0.37. The stock has a 50 day simple moving average of $144.45 and a 200-day simple moving average of $138.70. RLI Corp. has a 12-month low of $123.04 and a 12-month high of $149.65. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI) last released its quarterly earnings data on Tuesday, January 23rd. The insurance provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.10. RLI had a return on equity of 17.02% and a net margin of 20.15%. The firm had revenue of $433.52 million during the quarter, compared to the consensus estimate of $423.12 million. During the same period last year, the business posted $1.53 EPS. RLI’s quarterly revenue was up 20.2% on a year-over-year basis. On average, equities analysts forecast that RLI Corp. will post 5.56 EPS for the current year.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.76%. The ex-dividend date was Wednesday, February 28th. RLI’s payout ratio is currently 16.31%.

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.