RLI Corp. (NYSE:RLI) Shares Bought by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp raised its holdings in RLI Corp. (NYSE:RLI) by 388.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,777 shares of the insurance provider’s stock after acquiring an additional 14,136 shares during the period. Alaska Permanent Fund Corp’s holdings in RLI were worth $2,366,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. QRG Capital Management Inc. acquired a new stake in shares of RLI during the 3rd quarter worth $661,000. Envestnet Asset Management Inc. increased its holdings in shares of RLI by 28.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 76,124 shares of the insurance provider’s stock worth $10,344,000 after buying an additional 16,725 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of RLI by 1.7% during the 3rd quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider’s stock worth $642,000 after buying an additional 77 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of RLI by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock worth $147,097,000 after buying an additional 11,965 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of RLI during the 3rd quarter worth $840,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RLI has been the subject of a number of research reports. Royal Bank of Canada upped their price target on shares of RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Wednesday. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday. Compass Point upped their price target on shares of RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods upped their price target on shares of RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.25.

RLI Stock Down 1.1 %

NYSE:RLI traded down $1.58 on Thursday, reaching $146.13. The stock had a trading volume of 10,909 shares, compared to its average volume of 174,914. The company has a current ratio of 0.39, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average of $144.65 and a 200 day moving average of $138.92. The stock has a market cap of $6.68 billion, a P/E ratio of 20.20 and a beta of 0.37. RLI Corp. has a 12-month low of $123.04 and a 12-month high of $149.20.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. The company had revenue of $444.80 million during the quarter, compared to analysts’ expectations of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 EPS. On average, research analysts predict that RLI Corp. will post 5.56 earnings per share for the current year.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 0.74%. RLI’s payout ratio is 14.92%.

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.