Nationwide Fund Advisors lowered its stake in RLI Corp. (NYSE:RLI) by 24.9% during the second quarter, Holdings Channel reports. The institutional investor owned 25,090 shares of the company’s stock after selling 8,335 shares during the period. Nationwide Fund Advisors owned approximately 0.06% of RLI Corp. worth $1,726,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Geneva Advisors LLC boosted its stake in RLI Corp. by 32.1% in the second quarter. Geneva Advisors LLC now owns 45,296 shares of the company’s stock valued at $3,115,000 after buying an additional 11,000 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in RLI Corp. by 3.8% in the second quarter. Ameriprise Financial Inc. now owns 184,755 shares of the company’s stock valued at $12,707,000 after buying an additional 6,848 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in RLI Corp. by 19.8% in the second quarter. PNC Financial Services Group Inc. now owns 862,817 shares of the company’s stock valued at $59,345,000 after buying an additional 142,890 shares in the last quarter. Princeton Alpha Management LP bought a new stake in RLI Corp. during the second quarter valued at approximately $212,000. Finally, First Trust Advisors LP boosted its stake in RLI Corp. by 11.7% in the second quarter. First Trust Advisors LP now owns 28,835 shares of the company’s stock valued at $1,983,000 after buying an additional 3,022 shares in the last quarter. Institutional investors and hedge funds own 79.93% of the company’s stock.
Shares of RLI Corp. (NYSE:RLI) traded down 0.42% during trading on Friday, reaching $68.38. 143,241 shares of the company traded hands. RLI Corp. has a 12 month low of $56.56 and a 12 month high of $71.46. The stock has a market cap of $2.99 billion, a P/E ratio of 23.26 and a beta of 0.91. The stock’s 50 day moving average price is $68.70 and its 200-day moving average price is $67.05.
RLI Corp. (NYSE:RLI) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company earned $196 million during the quarter, compared to analysts’ expectations of $208.20 million. RLI Corp. had a return on equity of 12.24% and a net margin of 16.16%. During the same period in the prior year, the business posted $0.77 EPS. On average, equities research analysts expect that RLI Corp. will post $2.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Wednesday, August 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. RLI Corp.’s dividend payout ratio (DPR) is presently 27.30%.
Separately, Zacks Investment Research upgraded shares of RLI Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Five equities research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $59.75.
In related news, Director Robert P. Restrepo, Jr. purchased 600 shares of the stock in a transaction dated Friday, August 26th. The stock was bought at an average cost of $70.63 per share, with a total value of $42,378.00. Following the purchase, the director now directly owns 900 shares in the company, valued at approximately $63,567. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Stone sold 907 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $67.39, for a total value of $61,122.73. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.
RLI Corp. Company Profile
RLI Corp. is a specialty insurance company. The Company operates through three segments: Casualty, Property and Surety. The Casualty segment consists of general liability, personal umbrella, transportation, executive products and commercial umbrella coverages, as well as package business and other specialty coverages.
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