Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 1,522 Shares of RLI Corp. $RLI

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of RLI Corp. (NYSE:RLI) by 7.6% in the second quarter, Holdings Channel.com reports. The firm owned 21,457 shares of the insurance provider’s stock after purchasing an additional 1,522 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in RLI were worth $1,550,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of RLI by 95.2% in the 1st quarter. Vanguard Group Inc. now owns 8,996,643 shares of the insurance provider’s stock worth $722,700,000 after buying an additional 4,388,400 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in RLI by 117.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,226,797 shares of the insurance provider’s stock worth $419,869,000 after acquiring an additional 2,817,616 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of RLI by 106.6% in the first quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider’s stock worth $220,967,000 after acquiring an additional 1,419,212 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of RLI by 97.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider’s stock valued at $149,569,000 after acquiring an additional 920,799 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of RLI by 155.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,488,514 shares of the insurance provider’s stock worth $119,573,000 after purchasing an additional 906,375 shares during the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Trading Up 0.1%

Shares of NYSE:RLI opened at $64.16 on Friday. The stock’s 50-day simple moving average is $62.73 and its two-hundred day simple moving average is $67.98. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 16.84 and a beta of 0.61. RLI Corp. has a 52-week low of $57.75 and a 52-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.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, October 20th. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.62 by $0.21. The firm had revenue of $509.26 million during the quarter, compared to analyst estimates of $444.75 million. RLI had a net margin of 19.02% and a return on equity of 16.51%. During the same quarter in the prior year, the firm earned $1.31 EPS. Analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 28th will be given a $0.16 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.64 annualized dividend and a yield of 1.0%. RLI’s dividend payout ratio (DPR) is presently 16.80%.

Analyst Upgrades and Downgrades

RLI has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Truist Financial set a $62.00 price objective on shares of RLI and gave the stock a “hold” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $72.80.

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.