Cwm LLC Lowers Holdings in RLI Corp. (NYSE:RLI)

Cwm LLC lessened its stake in RLI Corp. (NYSE:RLI) by 50.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,731 shares of the insurance provider’s stock after selling 3,752 shares during the quarter. Cwm LLC’s holdings in RLI were worth $497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in RLI by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock worth $147,097,000 after buying an additional 11,965 shares in the last quarter. Van Berkom & Associates Inc. increased its holdings in RLI by 18.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 526,679 shares of the insurance provider’s stock worth $71,570,000 after buying an additional 80,552 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in RLI by 39.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 400,532 shares of the insurance provider’s stock worth $54,428,000 after buying an additional 112,988 shares in the last quarter. Northern Trust Corp increased its holdings in RLI by 0.9% in the 3rd quarter. Northern Trust Corp now owns 395,547 shares of the insurance provider’s stock worth $53,751,000 after buying an additional 3,562 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in RLI by 2.2% in the 3rd quarter. American Century Companies Inc. now owns 320,540 shares of the insurance provider’s stock worth $43,558,000 after buying an additional 6,896 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Down 0.5 %

RLI stock opened at $141.35 on Wednesday. RLI Corp. has a twelve month low of $123.04 and a twelve month high of $149.20. The stock has a market cap of $6.46 billion, a P/E ratio of 19.52 and a beta of 0.37. The business’s 50-day moving average price is $144.78 and its 200-day moving average price is $139.16.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. RLI had a return on equity of 17.24% and a net margin of 20.96%. The firm had revenue of $444.80 million for the quarter, compared to analysts’ expectations of $460.05 million. During the same period in the previous year, the firm earned $1.63 EPS. The business’s quarterly revenue was up 21.9% on a year-over-year basis. On average, equities research analysts expect that RLI Corp. will post 5.74 earnings per share for the current fiscal year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.76%. RLI’s payout ratio is currently 14.92%.

Analysts Set New Price Targets

Several equities research analysts recently commented on RLI shares. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday, April 23rd. Compass Point boosted their price target on RLI from $158.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada boosted their price target on RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods boosted their price target on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $163.25.

RLI Company Profile

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.