Bbva Compass Bancshares Inc. lowered its position in RLI Corp. (NYSE:RLI) by 20.5% during the second quarter, Holdings Channel reports. The fund owned 28,204 shares of the company’s stock after selling 7,287 shares during the period. Bbva Compass Bancshares Inc.’s holdings in RLI Corp. were worth $1,940,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in RLI Corp. by 24.3% in the first quarter. State Street Corp now owns 5,555,070 shares of the company’s stock worth $371,410,000 after buying an additional 1,085,597 shares during the last quarter. Goldman Sachs Group Inc. raised its position in RLI Corp. by 21.0% in the first quarter. Goldman Sachs Group Inc. now owns 819,554 shares of the company’s stock worth $54,796,000 after buying an additional 142,244 shares during the last quarter. Geode Capital Management LLC raised its position in RLI Corp. by 8.1% in the first quarter. Geode Capital Management LLC now owns 257,396 shares of the company’s stock worth $17,209,000 after buying an additional 19,191 shares during the last quarter. Prudential Financial Inc. raised its position in RLI Corp. by 12.8% in the first quarter. Prudential Financial Inc. now owns 100,124 shares of the company’s stock worth $6,694,000 after buying an additional 11,400 shares during the last quarter. Finally, Whittier Trust Co. raised its position in RLI Corp. by 1.2% in the second quarter. Whittier Trust Co. now owns 30,053 shares of the company’s stock worth $2,067,000 after buying an additional 364 shares during the last quarter. 79.93% of the stock is currently owned by hedge funds and other institutional investors.
RLI Corp. (NYSE:RLI) traded down 0.23% during trading on Friday, hitting $68.51. The company had a trading volume of 73,256 shares. RLI Corp. has a 12-month low of $56.39 and a 12-month high of $71.46. The firm has a 50-day moving average of $68.75 and a 200 day moving average of $67.04. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 23.30 and a beta of 0.91.
RLI Corp. (NYSE:RLI) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The business had revenue of $196 million for the quarter, compared to analyst estimates of $208.20 million. RLI Corp. had a return on equity of 12.24% and a net margin of 16.16%. During the same quarter in the previous year, the firm earned $0.77 EPS. On average, equities research analysts forecast that RLI Corp. will post $2.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Wednesday, August 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.16%. The ex-dividend date was Monday, August 29th. RLI Corp.’s dividend payout ratio is 27.30%.
Separately, Zacks Investment Research raised 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, RLI Corp. currently has an average rating of “Hold” and an average price target of $59.75.
In other RLI Corp. news, Director Robert P. Restrepo, Jr. acquired 600 shares of RLI Corp. stock in a transaction on Friday, August 26th. The shares were bought at an average price of $70.63 per share, with a total value of $42,378.00. Following the completion of the purchase, the director now owns 900 shares in the company, valued at $63,567. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Stone sold 907 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was 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 corporate 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.