RLI Corp. (NYSE:RLI) Shares Sold by Savant Capital LLC

Savant Capital LLC trimmed its holdings in RLI Corp. (NYSE:RLI) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,889 shares of the insurance provider’s stock after selling 200 shares during the quarter. Savant Capital LLC’s holdings in RLI were worth $969,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RLI. Creekmur Asset Management LLC bought a new position in shares of RLI in the fourth quarter worth $1,024,000. Russell Investments Group Ltd. lifted its holdings in RLI by 585.0% in the first quarter. Russell Investments Group Ltd. now owns 41,649 shares of the insurance provider’s stock worth $6,184,000 after purchasing an additional 35,569 shares during the period. BNP Paribas Financial Markets grew its position in RLI by 52.2% in the 1st quarter. BNP Paribas Financial Markets now owns 11,645 shares of the insurance provider’s stock valued at $1,729,000 after buying an additional 3,993 shares in the last quarter. Principal Financial Group Inc. increased its stake in RLI by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 168,210 shares of the insurance provider’s stock valued at $22,392,000 after buying an additional 5,113 shares during the period. Finally, Maren Capital LLC acquired a new position in RLI during the 4th quarter valued at about $67,149,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Stock Performance

Shares of NYSE:RLI opened at $149.48 on Thursday. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 20.65 and a beta of 0.41. RLI Corp. has a 1-year low of $125.77 and a 1-year high of $155.59. The company has a 50 day moving average price of $146.94 and a 200 day moving average price of $145.09.

RLI (NYSE:RLI) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.37. The company had revenue of $416.44 million during the quarter, compared to the consensus estimate of $561.60 million. RLI had a return on equity of 18.33% and a net margin of 20.78%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 EPS. On average, sell-side analysts expect that RLI Corp. will post 6.14 EPS for the current fiscal year.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a $0.29 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.78%. RLI’s dividend payout ratio (DPR) is 16.02%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reduced their price target on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Keefe, Bruyette & Woods upped their target price on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $155.00 price objective on shares of RLI in a report on Wednesday, July 24th. Finally, Compass Point decreased their target price on RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $166.25.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. 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.