Public Employees Retirement System of Ohio Makes New $1.44 Million Investment in RLI Corp. $RLI

Public Employees Retirement System of Ohio purchased a new position in RLI Corp. (NYSE:RLI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 24,445 shares of the insurance provider's stock, valued at approximately $1,444,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Pure Financial Advisors LLC bought a new position in RLI during the second quarter valued at $356,000. Corient Private Wealth LP bought a new stake in shares of RLI in the second quarter valued at $4,932,000. Ausdal Financial Partners Inc. bought a new stake in shares of RLI in the second quarter valued at $244,000. Bank of America Corp DE purchased a new position in shares of RLI during the 2nd quarter valued at $23,323,000. Finally, Port Capital LLC purchased a new position in shares of RLI during the 2nd quarter valued at $79,499,000. Institutional investors own 77.89% of the company's stock.

RLI Stock Up 0.0%

Shares of NYSE RLI opened at $62.43 on Tuesday. The stock's 50-day simple moving average is $62.62 and its two-hundred day simple moving average is $58.22. RLI Corp. has a twelve month low of $47.26 and a twelve month high of $68.29. The firm has a market capitalization of $5.73 billion, a P/E ratio of 13.12 and a beta of 0.38.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.11. RLI had a return on equity of 17.61% and a net margin of 22.22%.The firm had revenue of $575.57 million during the quarter, compared to the consensus estimate of $568.70 million. During the same quarter last year, the company posted $0.82 EPS. The company's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, research analysts anticipate that RLI Corp. will post 2.88 EPS for the current fiscal year.

RLI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 31st. RLI's dividend payout ratio (DPR) is currently 15.13%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RLI. Jefferies Financial Group lowered shares of RLI from a "hold" rating to an "underperform" rating and set a $53.00 price objective for the company. in a research note on Tuesday, August 25th. UBS Group set a $74.00 target price on RLI in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $74.00 price target (up from $70.00) on shares of RLI in a report on Tuesday, July 28th. Wells Fargo & Company lowered RLI from an "equal weight" rating to an "underweight" rating and set a $57.00 price target for the company. in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded RLI from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 28th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, RLI currently has a consensus rating of "Reduce" and an average target price of $63.20.

RLI Company Profile

RLI Corporation NYSE: RLI is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI's approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.

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