RLI Corp (RLI) Holdings Reduced by Two Sigma Advisers LP

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Two Sigma Advisers LP lowered its position in RLI Corp (NYSE:RLI) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,300 shares of the insurance provider’s stock after selling 242 shares during the quarter. Two Sigma Advisers LP’s holdings in RLI were worth $711,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of RLI by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 963,386 shares of the insurance provider’s stock worth $75,703,000 after buying an additional 16,446 shares during the period. Bank of New York Mellon Corp raised its stake in shares of RLI by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 579,885 shares of the insurance provider’s stock worth $45,567,000 after buying an additional 11,727 shares during the period. FMR LLC bought a new position in shares of RLI in the third quarter worth about $163,000. Panagora Asset Management Inc. bought a new position in shares of RLI in the third quarter worth about $458,000. Finally, Riverhead Capital Management LLC raised its stake in shares of RLI by 23.8% in the third quarter. Riverhead Capital Management LLC now owns 4,684 shares of the insurance provider’s stock worth $368,000 after buying an additional 900 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

NYSE RLI opened at $73.30 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.37 and a current ratio of 0.37. RLI Corp has a 12 month low of $62.30 and a 12 month high of $79.98. The company has a market capitalization of $3.27 billion, a P/E ratio of 35.76 and a beta of 0.93.

RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, April 17th. The insurance provider reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.12. RLI had a return on equity of 10.96% and a net margin of 7.84%. As a group, equities analysts forecast that RLI Corp will post 2.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 28th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $0.88 dividend on an annualized basis and a yield of 1.20%. RLI’s dividend payout ratio is presently 42.93%.

In related news, Director Michael J. Stone sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $70.44, for a total value of $704,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael J. Stone sold 1,437 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $71.55, for a total value of $102,817.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,437 shares of company stock worth $1,068,937. 5.01% of the stock is owned by insiders.

RLI has been the topic of several recent research reports. Zacks Investment Research raised RLI from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Tuesday, February 12th. TheStreet downgraded RLI from a “b” rating to a “c” rating in a research note on Wednesday, January 23rd. Finally, Compass Point assumed coverage on RLI in a research note on Tuesday, January 15th. They issued a “sell” rating and a $48.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. RLI presently has a consensus rating of “Hold” and an average price target of $63.50.

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RLI Company 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, and mercantile.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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