Port Capital LLC Has $25.81 Million Stake in RLI Corp. (RLI)

Port Capital LLC lifted its position in RLI Corp. (NYSE:RLI) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 328,444 shares of the insurance provider’s stock after acquiring an additional 2,525 shares during the quarter. RLI accounts for approximately 3.1% of Port Capital LLC’s holdings, making the stock its 3rd largest position. Port Capital LLC’s holdings in RLI were worth $25,809,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Strs Ohio boosted its position in RLI by 58.3% during the 2nd quarter. Strs Ohio now owns 1,900 shares of the insurance provider’s stock valued at $125,000 after purchasing an additional 700 shares during the period. Tower Research Capital LLC TRC boosted its position in RLI by 184.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,140 shares of the insurance provider’s stock valued at $142,000 after purchasing an additional 1,387 shares during the period. FMR LLC acquired a new position in RLI during the 3rd quarter valued at approximately $163,000. Everence Capital Management Inc. acquired a new position in RLI during the 3rd quarter valued at approximately $203,000. Finally, Zions Bancorporation acquired a new position in RLI during the 3rd quarter valued at approximately $207,000. Institutional investors own 87.92% of the company’s stock.

NYSE:RLI traded down $0.80 during midday trading on Thursday, reaching $71.93. 31 shares of the company traded hands, compared to its average volume of 133,127. RLI Corp. has a twelve month low of $56.94 and a twelve month high of $79.98. The firm has a market capitalization of $3.24 billion, a P/E ratio of 44.65 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.37 and a quick ratio of 0.37.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, October 17th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). RLI had a net margin of 16.64% and a return on equity of 11.39%. The company had revenue of $217.13 million for the quarter, compared to analyst estimates of $214.55 million. Research analysts anticipate that RLI Corp. will post 1.9 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Friday, November 30th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.22%. RLI’s dividend payout ratio (DPR) is presently 54.66%.

In other RLI news, Director Michael J. Stone sold 1,422 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $77.63, for a total transaction of $110,389.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.09% of the company’s stock.

A number of research analysts recently issued reports on RLI shares. B. Riley boosted their price objective on RLI from $66.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 3rd. Zacks Investment Research lowered RLI from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.33.

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RLI Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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, real estate investment trusts, and mercantile.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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