ProShare Advisors LLC Grows Position in RLI Corp. (NYSE:RLI)

ProShare Advisors LLC raised its stake in shares of RLI Corp. (NYSE:RLI) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 214,265 shares of the insurance provider’s stock after purchasing an additional 8,371 shares during the period. ProShare Advisors LLC’s holdings in RLI were worth $30,145,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. American National Bank acquired a new stake in shares of RLI during the 2nd quarter worth $35,000. Riverview Trust Co acquired a new stake in RLI during the first quarter worth about $44,000. Intelligent Financial Strategies purchased a new position in shares of RLI in the 1st quarter worth about $45,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of RLI by 468.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 253 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of RLI during the 1st quarter worth about $73,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Wall Street Analyst Weigh In

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

RLI Trading Down 0.5 %

Shares of RLI stock opened at $152.62 on Monday. The firm has a fifty day simple moving average of $148.86 and a 200-day simple moving average of $145.31. The company has a market capitalization of $6.98 billion, a PE ratio of 21.08 and a beta of 0.41. RLI Corp. has a twelve month low of $125.77 and a twelve month high of $155.59.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.37. RLI had a net margin of 20.78% and a return on equity of 18.33%. The company had revenue of $416.44 million during the quarter, compared to analysts’ expectations of $561.60 million. During the same period in the prior year, the company posted $1.16 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts predict that RLI Corp. will post 6.14 EPS for the current year.

RLI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 0.76%. RLI’s dividend payout ratio (DPR) is presently 16.02%.

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.