Rhumbline Advisers Sells 2,041 Shares of RLI Corp. (RLI)

Rhumbline Advisers trimmed its stake in shares of RLI Corp. (NYSE:RLI) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,610 shares of the insurance provider’s stock after selling 2,041 shares during the quarter. Rhumbline Advisers owned about 0.23% of RLI worth $7,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Strs Ohio lifted its position in RLI by 58.3% during the 2nd quarter. Strs Ohio now owns 1,900 shares of the insurance provider’s stock worth $125,000 after acquiring an additional 700 shares during the period. Tower Research Capital LLC TRC lifted its position in RLI by 184.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,140 shares of the insurance provider’s stock worth $142,000 after acquiring an additional 1,387 shares during the period. Everence Capital Management Inc. acquired a new stake in RLI during the 3rd quarter worth approximately $203,000. Zions Bancorporation acquired a new stake in RLI during the 3rd quarter worth approximately $207,000. Finally, WINTON GROUP Ltd acquired a new stake in RLI during the 3rd quarter worth approximately $234,000. 87.74% of the stock is owned by institutional investors.

RLI stock opened at $75.82 on Friday. RLI Corp. has a twelve month low of $56.94 and a twelve month high of $79.98. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 34.94 and a beta of 1.17.

RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, October 17th. The insurance provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). The business had revenue of $217.13 million during the quarter, compared to analyst estimates of $214.55 million. RLI had a net margin of 16.64% and a return on equity of 11.39%. As a group, research analysts forecast that RLI Corp. will post 1.9 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Friday, November 30th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.16%. RLI’s dividend payout ratio is currently 54.66%.

RLI has been the subject of a number of recent research reports. Zacks Investment Research cut RLI from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. B. Riley increased their price objective on RLI from $66.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. RLI presently has an average rating of “Hold” and an average target price of $69.33.

In other news, Director Michael J. Stone sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $77.84, for a total value of $389,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Stone sold 1,422 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $77.63, for a total value of $110,389.86. The disclosure for this sale can be found here. 6.09% of the stock is owned by company insiders.

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RLI Profile

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, real estate investment trusts, and mercantile.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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