Handelsbanken Fonder AB Has $1.57 Million Stock Position in RLI Corp. (NYSE:RLI)

Handelsbanken Fonder AB raised its position in RLI Corp. (NYSE:RLI) by 38.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,130 shares of the insurance provider’s stock after purchasing an additional 2,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in RLI were worth $1,570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creekmur Asset Management LLC acquired a new position in RLI in the fourth quarter worth approximately $1,024,000. Russell Investments Group Ltd. raised its holdings in shares of RLI by 585.0% during the 1st quarter. Russell Investments Group Ltd. now owns 41,649 shares of the insurance provider’s stock valued at $6,184,000 after purchasing an additional 35,569 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of 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 purchasing an additional 3,993 shares during the last quarter. Cetera Advisors LLC bought a new stake in RLI in the first quarter worth $515,000. Finally, Royal London Asset Management Ltd. acquired a new position in RLI during the fourth quarter worth $2,079,000. 77.89% of the stock is owned by hedge funds and other institutional investors.

RLI Price Performance

RLI opened at $157.05 on Friday. RLI Corp. has a fifty-two week low of $125.77 and a fifty-two week high of $160.47. The company has a market capitalization of $7.19 billion, a P/E ratio of 21.69 and a beta of 0.41. The firm’s fifty day moving average price is $151.71 and its two-hundred day moving average price is $146.09.

RLI (NYSE:RLI) last posted its earnings results 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. The business had revenue of $416.44 million for the quarter, compared to analysts’ expectations of $561.60 million. RLI had a net margin of 20.78% and a return on equity of 18.33%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 earnings per share. On average, equities research analysts expect that RLI Corp. will post 6.14 EPS for the current fiscal year.

RLI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, August 30th. RLI’s dividend payout ratio is 16.02%.

Wall Street Analysts Forecast Growth

RLI has been the subject of a number of analyst reports. JMP Securities restated a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $162.00 price target on shares of RLI in a report on Tuesday. Compass Point dropped their price objective on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group increased their target price on RLI from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price target on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.80.

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.