Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of RLI Corp (NYSE:RLI) by 11.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,249 shares of the insurance provider’s stock after selling 281 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RLI were worth $161,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of RLI in the fourth quarter worth $22,559,000. Vaughan David Investments LLC IL increased its stake in shares of RLI by 10.9% in the fourth quarter. Vaughan David Investments LLC IL now owns 2,060,676 shares of the insurance provider’s stock worth $142,166,000 after acquiring an additional 202,389 shares during the period. Vanguard Group Inc increased its stake in shares of RLI by 2.0% in the third quarter. Vanguard Group Inc now owns 4,597,534 shares of the insurance provider’s stock worth $361,274,000 after acquiring an additional 90,178 shares during the period. Deutsche Bank AG increased its stake in shares of RLI by 91.6% in the fourth quarter. Deutsche Bank AG now owns 157,999 shares of the insurance provider’s stock worth $10,898,000 after acquiring an additional 75,522 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of RLI by 9.3% in the fourth quarter. Geode Capital Management LLC now owns 413,555 shares of the insurance provider’s stock worth $28,531,000 after acquiring an additional 35,029 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.
In related news, Director Michael J. Stone sold 1,437 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $71.55, for a total transaction of $102,817.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael J. Stone sold 15,000 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $79.19, for a total transaction of $1,187,850.00. The disclosure for this sale can be found here. Insiders have sold 26,437 shares of company stock worth $1,995,067 over the last three months. 5.01% of the stock is currently owned by insiders.
A number of analysts have recently weighed in on RLI shares. Zacks Investment Research lowered shares of RLI from a “buy” rating to a “sell” rating in a research note on Monday, April 15th. TheStreet lowered shares of RLI from a “b” rating to a “c” rating in a research note on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $67.25.
Shares of NYSE:RLI traded up $0.35 during midday trading on Monday, reaching $84.52. The company’s stock had a trading volume of 246 shares, compared to its average volume of 182,720. The firm has a market capitalization of $3.75 billion, a P/E ratio of 41.24 and a beta of 0.98. RLI Corp has a twelve month low of $64.48 and a twelve month high of $84.94. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.38 and a quick ratio of 0.38.
RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.12. RLI had a net margin of 13.11% and a return on equity of 11.36%. The firm had revenue of $221.25 million for the quarter. Equities analysts anticipate that RLI Corp will post 2.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, May 31st will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, May 30th. This is an increase from RLI’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 1.09%. RLI’s dividend payout ratio is 42.93%.
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RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.
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