American Century Companies Inc. Grows Stock Holdings in RLI Corp. (NYSE:RLI)

American Century Companies Inc. grew its holdings in RLI Corp. (NYSE:RLI) by 25.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 103,139 shares of the insurance provider’s stock after acquiring an additional 20,809 shares during the period. American Century Companies Inc.’s holdings in RLI were worth $14,511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RLI. AGF Management Ltd. raised its holdings in shares of RLI by 3.5% during the 2nd quarter. AGF Management Ltd. now owns 16,100 shares of the insurance provider’s stock valued at $2,265,000 after buying an additional 551 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of RLI by 3.4% during the second quarter. Coldstream Capital Management Inc. now owns 13,078 shares of the insurance provider’s stock valued at $1,840,000 after purchasing an additional 436 shares during the period. Van Hulzen Asset Management LLC lifted its position in shares of RLI by 6.7% during the second quarter. Van Hulzen Asset Management LLC now owns 8,022 shares of the insurance provider’s stock worth $1,129,000 after purchasing an additional 505 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in shares of RLI by 1.5% in the second quarter. Van Berkom & Associates Inc. now owns 556,764 shares of the insurance provider’s stock valued at $78,331,000 after purchasing an additional 8,454 shares during the period. Finally, Choreo LLC acquired a new stake in RLI during the 2nd quarter valued at $345,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Stock Performance

NYSE RLI opened at $152.62 on Friday. RLI Corp. has a one year low of $125.77 and a one year high of $155.59. The company has a 50-day simple moving average of $148.86 and a 200-day simple moving average of $145.33. The firm has a market capitalization of $6.98 billion, a PE ratio of 21.08 and a beta of 0.41.

RLI (NYSE:RLI) last issued its earnings results 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%. RLI’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 earnings per share. Equities analysts forecast that RLI Corp. will post 6.14 earnings per share for the current year.

RLI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were given a dividend of $0.29 per share. The ex-dividend date was Friday, August 30th. This represents a $1.16 annualized dividend and a dividend yield of 0.76%. RLI’s dividend payout ratio is currently 16.02%.

Analyst Upgrades and Downgrades

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

RLI 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.