Dynamic Technology Lab Private Ltd Invests $960,000 in RLI Corp. $RLI

Dynamic Technology Lab Private Ltd acquired a new position in shares of RLI Corp. (NYSE:RLI) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 13,296 shares of the insurance provider’s stock, valued at approximately $960,000.

A number of other large investors have also recently bought and sold shares of RLI. Vanguard Group Inc. raised its holdings in shares of RLI by 95.2% in the first quarter. Vanguard Group Inc. now owns 8,996,643 shares of the insurance provider’s stock worth $722,700,000 after acquiring an additional 4,388,400 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in RLI by 117.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,226,797 shares of the insurance provider’s stock worth $419,869,000 after purchasing an additional 2,817,616 shares in the last quarter. Neuberger Berman Group LLC raised its stake in RLI by 106.6% in the 1st quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider’s stock valued at $220,967,000 after purchasing an additional 1,419,212 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in RLI by 97.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider’s stock valued at $149,569,000 after purchasing an additional 920,799 shares during the last quarter. Finally, Maren Capital LLC lifted its holdings in RLI by 121.5% in the 1st quarter. Maren Capital LLC now owns 1,552,053 shares of the insurance provider’s stock valued at $124,676,000 after purchasing an additional 851,450 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analyst Ratings Changes

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

RLI Stock Performance

Shares of RLI stock opened at $64.16 on Friday. 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 firm 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 one year low of $57.75 and a one year high of $91.14. The company has a 50 day moving average price of $62.73 and a 200 day moving average price of $67.98.

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

RLI Dividend Announcement

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

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.