New York State Teachers Retirement System Has $9.05 Million Stake in RLI Corp. (NYSE:RLI)

New York State Teachers Retirement System lifted its position in RLI Corp. (NYSE:RLI - Free Report) by 99.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,616 shares of the insurance provider's stock after buying an additional 56,208 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of RLI worth $9,046,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RLI. Amalgamated Bank boosted its position in RLI by 91.4% during the first quarter. Amalgamated Bank now owns 39,388 shares of the insurance provider's stock worth $3,164,000 after purchasing an additional 18,808 shares during the period. KBC Group NV boosted its position in RLI by 103.4% during the first quarter. KBC Group NV now owns 3,641 shares of the insurance provider's stock worth $292,000 after purchasing an additional 1,851 shares during the period. Golden State Wealth Management LLC boosted its position in RLI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock worth $30,000 after purchasing an additional 186 shares during the period. Illinois Municipal Retirement Fund boosted its position in RLI by 100.0% during the first quarter. Illinois Municipal Retirement Fund now owns 19,526 shares of the insurance provider's stock worth $1,569,000 after purchasing an additional 9,763 shares during the period. Finally, Diversified Trust Co bought a new stake in RLI during the first quarter worth approximately $549,000. Institutional investors own 77.89% of the company's stock.

RLI Stock Performance

Shares of RLI traded up $0.29 during mid-day trading on Tuesday, hitting $71.48. The company's stock had a trading volume of 639,512 shares, compared to its average volume of 389,943. RLI Corp. has a one year low of $68.50 and a one year high of $91.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market capitalization of $6.56 billion, a PE ratio of 23.51 and a beta of 0.67. The stock's 50-day moving average is $73.81 and its two-hundred day moving average is $75.75.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $36.73 million during the quarter, compared to analysts' expectations of $442.20 million. RLI had a return on equity of 16.26% and a net margin of 16.22%. RLI's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. As a group, sell-side analysts anticipate that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 30th. RLI's dividend payout ratio is presently 21.05%.

Analyst Ratings Changes

A number of research firms have recently commented on RLI. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods dropped their price objective on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Compass Point cut RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Finally, JMP Securities reissued a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $78.60.

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.