RLI Corp. (NYSE:RLI) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its holdings in RLI Corp. (NYSE:RLI - Free Report) by 79.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,941 shares of the insurance provider's stock after selling 27,420 shares during the period. Allianz Asset Management GmbH's holdings in RLI were worth $558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Markel Group Inc. lifted its holdings in shares of RLI by 100.0% in the first quarter. Markel Group Inc. now owns 2,394,544 shares of the insurance provider's stock valued at $192,354,000 after purchasing an additional 1,197,272 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in RLI by 1.5% in the 4th quarter. Neuberger Berman Group LLC now owns 1,331,526 shares of the insurance provider's stock valued at $219,475,000 after buying an additional 19,695 shares in the last quarter. Geode Capital Management LLC grew its holdings in RLI by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 1,024,518 shares of the insurance provider's stock valued at $168,907,000 after buying an additional 116,088 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in RLI by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 941,185 shares of the insurance provider's stock valued at $155,136,000 after buying an additional 7,609 shares during the last quarter. Finally, Port Capital LLC increased its position in RLI by 0.9% during the fourth quarter. Port Capital LLC now owns 766,668 shares of the insurance provider's stock worth $126,370,000 after buying an additional 6,680 shares in the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RLI

In other news, COO Jennifer L. Klobnak acquired 3,000 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was acquired at an average cost of $69.15 per share, for a total transaction of $207,450.00. Following the acquisition, the chief operating officer directly owned 98,450 shares in the company, valued at approximately $6,807,817.50. This represents a 3.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. JMP Securities restated a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price target on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $78.60.

RLI Stock Performance

NYSE RLI opened at $65.80 on Friday. The business's 50-day moving average price is $71.74 and its 200 day moving average price is $74.36. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. RLI Corp. has a twelve month low of $65.14 and a twelve month high of $91.14. The company has a market capitalization of $6.04 billion, a PE ratio of 18.85 and a beta of 0.66.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The insurance provider reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. RLI had a net margin of 17.81% and a return on equity of 15.82%. The company had revenue of $562.28 million during the quarter, compared to the consensus estimate of $445.55 million. During the same quarter in the prior year, the company posted $1.72 EPS. The company's quarterly revenue was up 20.0% compared to the same quarter last year. On average, research analysts predict that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 30th were issued a $0.16 dividend. This is a boost from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. RLI's dividend payout ratio (DPR) is 18.34%.

About RLI

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.

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