Victory Capital Management Inc. decreased its position in RLI Corp (NYSE:RLI) by 0.4% during the first quarter, HoldingsChannel.com reports. The firm owned 429,658 shares of the insurance provider’s stock after selling 1,911 shares during the quarter. Victory Capital Management Inc.’s holdings in RLI were worth $30,828,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its position in RLI by 6.1% during the fourth quarter. Hsbc Holdings PLC now owns 3,253 shares of the insurance provider’s stock worth $225,000 after acquiring an additional 187 shares during the period. BB&T Securities LLC increased its position in RLI by 1.1% during the fourth quarter. BB&T Securities LLC now owns 20,048 shares of the insurance provider’s stock worth $1,383,000 after acquiring an additional 222 shares during the period. State of Alaska Department of Revenue increased its position in RLI by 1.9% during the fourth quarter. State of Alaska Department of Revenue now owns 13,090 shares of the insurance provider’s stock worth $903,000 after acquiring an additional 250 shares during the period. Comerica Bank increased its position in RLI by 0.7% during the fourth quarter. Comerica Bank now owns 38,385 shares of the insurance provider’s stock worth $2,512,000 after acquiring an additional 263 shares during the period. Finally, Advisor Group Inc. increased its position in RLI by 10.5% during the fourth quarter. Advisor Group Inc. now owns 2,922 shares of the insurance provider’s stock worth $201,000 after acquiring an additional 278 shares during the period. 89.81% of the stock is currently owned by institutional investors.
In other news, Director Michael J. Stone sold 15,000 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $79.19, for a total value of $1,187,850.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael J. Stone sold 1,437 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $71.55, for a total transaction of $102,817.35. The disclosure for this sale can be found here. Insiders have sold 26,437 shares of company stock worth $1,995,067 in the last quarter. Corporate insiders own 5.01% of the company’s stock.
RLI traded up $0.03 during trading on Friday, reaching $84.58. 203 shares of the company’s stock were exchanged, compared to its average volume of 191,741. RLI Corp has a fifty-two week low of $64.48 and a fifty-two week high of $84.94. 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 capitalization of $3.74 billion, a P/E ratio of 41.17 and a beta of 0.98.
RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, April 17th. The insurance provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.12. RLI had a net margin of 13.11% and a return on equity of 11.36%. The firm had revenue of $221.25 million for the quarter. On average, equities research analysts expect that RLI Corp will post 2.33 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.92 dividend on an annualized basis and a yield of 1.09%. This is an increase from RLI’s previous quarterly dividend of $0.22. RLI’s payout ratio is currently 42.93%.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of RLI from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Thursday, May 9th. TheStreet raised shares of RLI from a “c” rating to an “a-” rating in a research report on Thursday, April 18th. One equities research 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. RLI currently has a consensus rating of “Hold” and a consensus price target of $67.25.
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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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