Bbva Compass Bancshares Inc. trimmed its holdings in RLI Corp (NYSE:RLI) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,378 shares of the insurance provider’s stock after selling 1,028 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in RLI were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Murphy Pohlad Asset Management LLC acquired a new position in RLI during the 4th quarter worth approximately $27,000. Intercontinental Wealth Advisors LLC acquired a new position in RLI during the 4th quarter worth approximately $47,000. Quadrant Capital Group LLC acquired a new position in RLI during the 1st quarter worth approximately $80,000. Contravisory Investment Management Inc. acquired a new position in RLI during the 1st quarter worth approximately $124,000. Finally, FMR LLC acquired a new position in RLI during the 3rd quarter worth approximately $163,000. 89.28% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on RLI. Zacks Investment Research raised RLI from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Thursday. TheStreet raised RLI from a “c” rating to an “a-” rating in a research note on Thursday, April 18th. Finally, Compass Point started coverage on RLI in a research note on Tuesday, January 15th. They set a “sell” rating and a $48.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $67.25.
Shares of RLI opened at $83.95 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 40.95 and a beta of 0.98. RLI Corp has a 52 week low of $64.48 and a 52 week high of $83.95.
RLI (NYSE:RLI) last issued its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.12. The firm had revenue of $221.25 million during the quarter. RLI had a return on equity of 11.36% and a net margin of 13.11%. Analysts expect that RLI Corp will post 2.33 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.23 per share. This is a positive change from RLI’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Thursday, May 30th. RLI’s payout ratio is currently 42.93%.
In other RLI news, Director Michael J. Stone sold 1,437 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $71.55, for a total transaction of $102,817.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Stone sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $79.19, for a total value of $1,187,850.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,437 shares of company stock valued at $1,995,067 over the last three months. Corporate insiders own 5.01% of the company’s stock.
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RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.
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