The Manufacturers Life Insurance Company increased its position in RLI Corp. (NYSE:RLI – Get Rating ) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,266 shares of the insurance provider’s stock after selling 922 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.10% of RLI worth $4,839,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of RLI. Bank of Montreal Can raised its stake in shares of RLI by 3.1% in the first quarter. Bank of Montreal Can now owns 3,928 shares of the insurance provider’s stock valued at $442,000 after purchasing an additional 119 shares during the period. Rhumbline Advisers grew its holdings in RLI by 2.2% during the first quarter. Rhumbline Advisers now owns 119,671 shares of the insurance provider’s stock worth $13,239,000 after acquiring an additional 2,620 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in RLI by 10.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,606 shares of the insurance provider’s stock valued at $1,616,000 after acquiring an additional 1,405 shares during the period. Great West Life Assurance Co. Can grew its holdings in RLI by 8.9% during the first quarter. Great West Life Assurance Co. Can now owns 22,212 shares of the insurance provider’s stock worth $2,528,000 after acquiring an additional 1,813 shares during the period. Finally, Yousif Capital Management LLC grew its holdings in RLI by 2.7% during the first quarter. Yousif Capital Management LLC now owns 21,618 shares of the insurance provider’s stock worth $2,392,000 after acquiring an additional 578 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s shares.
Analyzer Upgrades and Downgrades
RLI has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on RLI from $123.00 to $136.00 and gave the stock a “sector perform” rating in a report on Friday. Compass Point decreased their target price on RLI to $150.00 in a report on Wednesday, October 5th. Finally, StockNews.com started coverage on RLI in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.
RLI stock down 0.3%
RLI stock opened at $130.05 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.56, and a current ratio of 0.37. RLI Corp. has a fifty-two week low of $96.22 and a fifty-two week high of $140.69. The stock’s fifty day moving average is $131.96 and its two hundred day moving average is $120.76. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 10.21 and a beta of 0.46.
RLI (NYSE:RLI – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.45. RLI had a return on equity of 18.99% and a net margin of 34.36%. The business had revenue of $360.59 million for the quarter, compared to the consensus estimate of $323.92 million. During the same period in the prior year, the business earned $1.26 earnings per share. The business’s revenue rose by 11.5% on a year-on-year basis. analysts predict that RLI Corp will post 4.45 EPS for the current fiscal year.
RLI Raises Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 20th. Shareholders of record on Wednesday, November 30th were given a $7.26 dividend. This is an increase from RLI’s previous quarterly dividend of $0.26. This represents an annual dividend of $29.04 and a dividend yield of 22.33%. The ex-dividend date was Tuesday, November 29th. RLI’s dividend payout ratio is currently 8.16%.
RLI Corp. operates as a holding company engaged in the provision of insurance and underwriting services. It operates through the following segments: Casualty, Property and Surety. The Casualty segment offers health care and transport insurance. The Property segment consists of commercial fire, earthquake, difference in conditions, marine, facultative and treaty reinsurance, including crop and select personal lines policies, including pet insurance and homeowner reinsurance services.
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