BY Shaw & Co. Inc. acquires 24,865 shares of RLI Corp. (NYSE:RLI)

BY Shaw & Co. Inc. increased its holdings in RLI Corp. (NYSE:RLI – Free Report) by 18.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,880 shares of the insurance provider’s stock after purchasing an additional 24,865 shares during the period. DE Shaw & Co. holdings. Inc. in RLI were worth $22,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Maren Capital LLC bought a new position in shares of RLI in the fourth quarter valued at about $67,149,000. Jacobs Levy Equity Management Inc. boosted its holdings in RLI by 237.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 207,883 shares of the insurance provider’s stock valued at $30,864,000 after buying an additional 146,324 shares during the period. Russell Investments Group Ltd. raised its position in RLI by 585.0% in the first quarter. Russell Investments Group Ltd. now owns 41,649 shares of the insurance provider’s stock worth $6,184,000 after purchasing an additional 35,569 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in RLI by 2,611.1% in the second quarter. Cubist Systematic Strategies LLC now owns 34,838 shares of the insurance provider’s stock worth $4,901,000 after purchasing an additional 33,553 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of RLI by 237.8% in the 4th quarter. Verition Fund Management LLC now owns 47,657 shares of the insurance provider’s stock, valued at $6,344,000 after acquired an additional 33,550 shares in the last quarter. Institutional investors own 77.89% of the company’s shares.

RLI stock performance

Shares of RLI stock opened at $153.94 on Monday. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 21.26 and a beta of 0.41. The company has a fifty day moving average of $150.01 and a 200 day moving average of $145.55. RLI Corp. it has a 52-week low of $125.77 and a 52-week high of $155.59.

RLI (NYSE:RLI – Get Your Free Report ) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.37. RLI had a return on equity of 18.33% and a net margin of 20.78%. The firm had revenue of $416.44 million for the quarter, compared to analysts’ expectations of $561.60 million. In the same period last year, the company earned $1.16 per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that RLI Corp. will post 6.14 earnings per share for the current fiscal year.

RLI announces dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 30. This represents an annualized dividend of $1.16 and a yield of 0.75%. RLI’s payout ratio is currently 16.02%.

Changes in Analyst Ratings

RLI has been the subject of several research analyst reports. JMP Securities restated a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Jefferies Financial Group decreased their price objective on shares of RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Compass Point dropped their price objective on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $155.00 target price on shares of RLI in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods raised their target price on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th . Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.25, based on data from MarketBeat.

View the latest stock report on RLI

RLI profile

(Free Report)

RLI Corp., an insurance holding company, underwrites property and casualty insurance. The casualty segment offers commercial and personal coverage products; and general liability products, such as third-party liability coverage for commercial policyholders, including manufacturers, contractors, condos and tradespeople.

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