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US Bancorp DE reduced its stake in RLI Corp. (NYSE: RLI – Get Rating) by 63.7% in the third quarter, according to its latest Form 13F filed with the Securities and Exchange Commission. The fund owned 1,183 shares of the insurance company after selling 2,076 of his shares during the quarter. US Bancorp DE’s holding in RLI was valued at $121,000 as of the latest SEC filing.
Other big investors have also recently changed their stakes in the company. Van ECK Associates Corp increased his stake in RLI by 9.8% in the third quarter. Van ECK Associates Corp now owns 1,239 shares of the insurance company worth $127,000 after he bought an additional 111 shares last quarter. Allspring Global Investments Holdings LLC increased his RLI stock position by 36.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,556 of his shares in the insurance company worth $159,000 after purchasing an additional 413 shares during the previous quarter. Mirabella Financial Services LLP purchased new shares in his RLI worth approximately $222,000 in the third quarter. Wipfli Financial Advisors LLC acquired new shares in his RLI worth approximately $42,000 in the third quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased his stake in RLI by 12.7% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 7,948 shares of the insurance company valued at $813,000 after acquiring an additional 896 shares during this period. Currently 80.24% of the shares are owned by institutional investors and hedge funds.
Wall Street analyst opinion
Many brokerage firms have commented on RLI. Royal Bank of Canada raised its RLI price target from $123.00 to $136.00 and gave the stock a ‘sector perform’ rating in a research report on Friday. StockNews.com began covering his RLI in an investigative report on Wednesday, Oct. 12. They set a “pending” rating on the company. Finally, Compass Point lowered the RLI price target to $150.00 in his Wednesday Oct. 5 research report.
RLI price performance
RLI shares opened at $130.38 on Friday. His 50-day moving average for this business is $131.97 and his 200-day moving average is $120.58. The company has an equity ratio of 0.17, a quick ratio of 0.56 and a current ratio of 0.37. The company has a market cap of $5.92 billion, a P/E of 10.23 and a beta of 0.46. RLI Corp. has a 52-week low of $96.22 and a 52-week high of $140.69.
RLI (NYSE: RLI – Get Rating) last released quarterly earnings data on Wednesday, January 25. Insurance providers reported his EPS of $1.53 for the quarter, beating analysts’ consensus forecast of $1.08 for him by $0.45. The company’s earnings for the quarter he had $360.59 million, while analyst estimates put him at $323.92 million. RLI’s return on equity was 18.99% and net profit margin was 34.36%. Quarterly revenue for this business increased by 11.5% compared to the same period last year. During the same period last year, the company earned him $1.26 in EPS. Equity research analysts expect RLI Corp. to post his 4.45 earnings per share this fiscal year.
RLI Increases Dividend
The company recently announced its quarterly dividend, which was paid on Tuesday, December 20th. A dividend of $7.26 per share was issued to shareholders of record on Wednesday, November 30. This is up from RLI’s previous quarterly dividend of $0.26. This represents an annualized dividend of $29.04 and a yield of 22.27%. The ex-dividend date for this dividend was Tuesday, November 29. RLI’s payout percentage is currently 8.16%.
RLI Profile
(get rating)
RLI Corp. operates as a holding company engaged in the provision of insurance and underwriting services. It operates through the following segments: Casualty, Property, and Surety. The General Insurance segment provides medical and transportation insurance. The Property segment consists of commercial fire, earthquake, contingent, marine, voluntary and treaty reinsurance, and includes crop and select personal insurance, including pet insurance and homeowners reinsurance services.
Featured article
Want to know which other hedge funds hold RLIs? Visit HoldingsChannel.com to get the latest RLI Corp. (NYSE:RLI – Get Rating) 13F filings and insider trading.
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