Eaton Vance Management cut its stake in RLI Corp. (NYSE:RLI) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 236,917 shares of the insurance provider’s stock after selling 59,149 shares during the period. Eaton Vance Management owned 0.52% of RLI worth $24,675,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of RLI by 2.2% in the fourth quarter. BlackRock Inc. now owns 4,569,094 shares of the insurance provider’s stock worth $475,871,000 after acquiring an additional 100,086 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of RLI by 10.5% during the fourth quarter. California Public Employees Retirement System now owns 99,325 shares of the insurance provider’s stock worth $10,345,000 after buying an additional 9,424 shares during the last quarter. Tompkins Financial Corp bought a new stake in RLI in the fourth quarter valued at approximately $1,194,000. SG Americas Securities LLC boosted its holdings in shares of RLI by 513.5% in the fourth quarter. SG Americas Securities LLC now owns 11,570 shares of the insurance provider’s stock valued at $1,205,000 after buying an additional 9,684 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in RLI by 8.1% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 19,720 shares of the insurance provider’s stock worth $2,054,000 after purchasing an additional 1,471 shares during the last quarter. 84.37% of the stock is owned by institutional investors.
Several brokerages recently commented on RLI. Compass Point increased their target price on shares of RLI from $93.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, January 6th. B. Riley increased their target price on shares of RLI from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, March 9th. Royal Bank of Canada increased their target price on shares of RLI from $95.00 to $102.00 and gave the stock a “sector perform” rating in a report on Friday, January 29th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of RLI from a “sell” rating to a “hold” rating and set a $107.00 target price for the company in a report on Thursday, December 10th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. RLI presently has an average rating of “Hold” and an average target price of $109.25.
Shares of RLI stock opened at $113.79 on Friday. The stock has a market cap of $5.14 billion, a P/E ratio of 40.79 and a beta of 0.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.38 and a quick ratio of 0.38. The company has a fifty day moving average price of $110.54 and a two-hundred day moving average price of $100.43. RLI Corp. has a one year low of $66.31 and a one year high of $117.84.
RLI (NYSE:RLI) last announced its quarterly earnings results on Tuesday, January 26th. The insurance provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The firm had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $238.44 million. RLI had a net margin of 13.42% and a return on equity of 11.05%. The company’s quarterly revenue was up 41.2% on a year-over-year basis. As a group, equities research analysts anticipate that RLI Corp. will post 2.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Stockholders of record on Friday, February 26th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Thursday, February 25th. RLI’s payout ratio is presently 37.35%.
RLI Company Profile
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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