Ontario Teachers Pension Plan Board Buys Shares of 14,339 RLI Corp. $RLI

Ontario Teachers Pension Plan Board purchased a new position in RLI Corp. (NYSE:RLI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,339 shares of the insurance provider’s stock, valued at approximately $1,036,000.

Several other hedge funds have also recently made changes to their positions in RLI. Caitong International Asset Management Co. Ltd lifted its position in RLI by 7,300.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 365 shares during the period. Chung Wu Investment Group LLC purchased a new stake in RLI during the 2nd quarter valued at $29,000. Hantz Financial Services Inc. lifted its holdings in shares of RLI by 3,645.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock valued at $30,000 after buying an additional 401 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of RLI by 100.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock valued at $32,000 after buying an additional 198 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in shares of RLI in the 2nd quarter worth $37,000. 77.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on RLI. Weiss Ratings reiterated a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. Wall Street Zen upgraded RLI from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Truist Financial set a $62.00 price target on shares of RLI and gave the company a “hold” rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.80.

RLI Price Performance

NYSE RLI opened at $63.28 on Monday. The business’s fifty day moving average is $63.07 and its 200 day moving average is $68.26. RLI Corp. has a fifty-two week low of $57.75 and a fifty-two week high of $91.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $5.81 billion, a PE ratio of 16.61 and a beta of 0.61.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, October 20th. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The firm had revenue of $509.26 million for the quarter, compared to the consensus estimate of $444.75 million. During the same quarter last year, the company earned $1.31 earnings per share. Sell-side analysts predict that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.64 annualized dividend and a yield of 1.0%. RLI’s payout ratio is currently 16.80%.

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.