WINTON GROUP Ltd Takes $5.76 Million Position in RLI Corp. $RLI

Key Points

• WINTON GROUP Ltd acquired 97,598 shares of RLI Corp. worth approximately $5.76 million, representing about 0.11% of the insurer. Institutional investors collectively own 77.89% of RLI.
• RLI exceeded quarterly earnings expectations, reporting $0.83 EPS versus the $0.72 consensus estimate, while revenue rose 15.2% year over year to $575.57 million.
• Analyst sentiment remains cautious, with RLI carrying a consensus “Reduce” rating and a $63.20 price target. The company declared a quarterly dividend of $0.18 per share, equivalent to a 1.2% yield.

WINTON GROUP Ltd bought a new stake in RLI Corp. (NYSE:RLI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 97,598 shares of the insurance provider's stock, valued at approximately $5,765,000. WINTON GROUP Ltd owned about 0.11% of RLI at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RLI. Royal Bank of Canada boosted its holdings in shares of RLI by 115.1% during the first quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider's stock worth $4,529,000 after purchasing an additional 30,170 shares during the period. Goldman Sachs Group Inc. raised its position in RLI by 110.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider's stock valued at $14,902,000 after purchasing an additional 97,501 shares during the last quarter. Empowered Funds LLC raised its position in RLI by 472.3% during the 1st quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider's stock valued at $2,344,000 after purchasing an additional 24,079 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in RLI by 46.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the insurance provider's stock worth $113,000 after buying an additional 493 shares during the period. Finally, Amundi lifted its holdings in RLI by 16,550.0% in the 2nd quarter. Amundi now owns 23,976 shares of the insurance provider's stock worth $1,689,000 after buying an additional 23,832 shares during the period. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Performance

Shares of RLI stock opened at $60.40 on Friday. The company has a 50-day simple moving average of $62.63 and a two-hundred day simple moving average of $58.22. The stock has a market capitalization of $5.54 billion, a PE ratio of 12.69 and a beta of 0.38. RLI Corp. has a 52-week low of $47.26 and a 52-week high of $67.32.

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

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. RLI's dividend payout ratio is presently 15.13%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $74.00 target price (up from $70.00) on shares of RLI in a research report on Tuesday, July 28th. UBS Group set a $74.00 target price on RLI in a research note on Tuesday, July 28th. Jefferies Financial Group lowered RLI from a "hold" rating to an "underperform" rating and set a $53.00 price target on the stock. in a research report on Tuesday, August 25th. Finally, Wells Fargo & Company cut RLI from an "equal weight" rating to an "underweight" rating and set a $57.00 price target on the stock. in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, RLI currently has an average rating of "Reduce" and a consensus price target of $63.20.

RLI Profile

RLI Corp. is a specialty property and casualty insurance company headquartered in Peoria, Illinois. Through its subsidiaries, the company underwrites a broad range of insurance products for commercial and personal customers, with an emphasis on specialized risks that may not be fully addressed by standard insurance carriers.

RLI's products include commercial property and casualty coverage, transportation and marine insurance, surety bonds, workers' compensation, professional liability, and personal umbrella insurance.

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