RLI Corp. $RLI Shares Sold by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. cut its holdings in RLI Corp. (NYSE:RLI) by 19.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,145,961 shares of the insurance provider’s stock after selling 274,442 shares during the period. RLI accounts for about 2.3% of Van Berkom & Associates Inc.’s portfolio, making the stock its 22nd largest holding. Van Berkom & Associates Inc.’s holdings in RLI were worth $63,383,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in RLI in the second quarter valued at $492,175,000. Wasatch Advisors LP grew its holdings in shares of RLI by 40.7% during the 2nd quarter. Wasatch Advisors LP now owns 3,631,273 shares of the insurance provider’s stock worth $214,499,000 after purchasing an additional 1,051,318 shares during the period. Markel Group Inc. grew its holdings in shares of RLI by 1.1% during the 3rd quarter. Markel Group Inc. now owns 2,421,922 shares of the insurance provider’s stock worth $133,957,000 after purchasing an additional 27,378 shares during the period. Dimensional Fund Advisors LP increased its position in shares of RLI by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,920,823 shares of the insurance provider’s stock worth $109,567,000 after purchasing an additional 21,299 shares during the last quarter. Finally, Maren Capital LLC increased its position in shares of RLI by 1.6% during the 2nd quarter. Maren Capital LLC now owns 1,817,370 shares of the insurance provider’s stock worth $107,352,000 after purchasing an additional 28,366 shares during the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Trading Down 0.6%

RLI opened at $67.97 on Tuesday. The stock’s 50-day moving average price is $61.05 and its 200 day moving average price is $58.95. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $71.89. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 19.92 and a beta of 0.31.

RLI (NYSE:RLI) last released its earnings results on Monday, October 19th. The insurance provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.32. The company had revenue of $476.96 million during the quarter, compared to the consensus estimate of $533.51 million. RLI had a return on equity of 18.19% and a net margin of 20.34%. During the same period in the previous year, the company posted $0.83 EPS. On average, research analysts forecast that RLI Corp. will post 3.15 earnings per share for the current year.

RLI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. RLI’s dividend payout ratio (DPR) is presently 16.78%.

Analyst Ratings Changes

RLI has been the topic of several research analyst reports. Jefferies Financial Group lowered shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 price objective on the stock. in a report on Tuesday, August 25th. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Wells Fargo & Company set a $53.00 price target on shares of RLI and gave the company an “underweight” rating in a research report on Wednesday, October 21st. UBS Group set a $74.00 price target on shares of RLI in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $74.00 price target (up from $69.00) on shares of RLI in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $62.40.

RLI Profile

RLI Corp. is a specialty insurance company that provides property, casualty and surety coverage through its subsidiaries. Its products serve businesses and individuals whose insurance needs may require specialized underwriting.

The company offers commercial liability and property insurance, personal umbrella coverage, and surety bonds, among other products. RLI distributes its policies primarily through independent agents and brokers and serves customers across the United States.

Founded in 1965, RLI began by providing replacement-cost coverage for mobile homes before expanding into a broader range of specialty insurance markets.