RLI Corp (RLI) Stake Lifted by Global Alpha Capital Management Ltd.

Global Alpha Capital Management Ltd. lifted its holdings in shares of RLI Corp (NYSE:RLI) by 24.2% in the 1st quarter, HoldingsChannel reports. The firm owned 199,204 shares of the insurance provider’s stock after acquiring an additional 38,800 shares during the period. RLI comprises 2.7% of Global Alpha Capital Management Ltd.’s investment portfolio, making the stock its 13th largest holding. Global Alpha Capital Management Ltd.’s holdings in RLI were worth $14,293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Great West Life Assurance Co. Can raised its holdings in shares of RLI by 1.5% during the first quarter. Great West Life Assurance Co. Can now owns 52,244 shares of the insurance provider’s stock valued at $3,745,000 after acquiring an additional 757 shares in the last quarter. Vaughan David Investments LLC IL raised its holdings in shares of RLI by 0.4% during the first quarter. Vaughan David Investments LLC IL now owns 2,068,695 shares of the insurance provider’s stock valued at $148,429,000 after acquiring an additional 8,019 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in shares of RLI by 50.8% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 8,670 shares of the insurance provider’s stock valued at $622,000 after acquiring an additional 2,920 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of RLI by 0.6% during the first quarter. New York State Common Retirement Fund now owns 85,771 shares of the insurance provider’s stock valued at $6,154,000 after acquiring an additional 481 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of RLI by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 1,482,889 shares of the insurance provider’s stock valued at $106,397,000 after acquiring an additional 260,243 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Shares of RLI stock traded down $0.30 during midday trading on Wednesday, reaching $85.04. 288 shares of the company’s stock traded hands, compared to its average volume of 139,319. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.75 billion, a PE ratio of 41.56 and a beta of 0.98. RLI Corp has a 12 month low of $64.48 and a 12 month high of $85.43.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.12. The business had revenue of $221.25 million during the quarter. RLI had a return on equity of 11.36% and a net margin of 13.11%. On average, research analysts anticipate that RLI Corp will post 2.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be issued a $0.23 dividend. This is an increase from RLI’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.92 dividend on an annualized basis and a yield of 1.08%. RLI’s dividend payout ratio is 42.93%.

A number of equities analysts recently commented on RLI shares. TheStreet downgraded RLI from a “b” rating to a “c” rating in a report on Wednesday, January 23rd. Zacks Investment Research upgraded RLI from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Tuesday, February 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $67.25.

In other RLI news, Director Michael J. Stone sold 15,000 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $79.19, for a total value of $1,187,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Stone sold 1,437 shares of the stock in a transaction 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. In the last quarter, insiders sold 26,437 shares of company stock valued at $1,995,067. 5.01% of the stock is owned by corporate insiders.

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About RLI

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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