Bokf Na increased its position in RLI Corp (NYSE:RLI) by 33.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,523 shares of the insurance provider’s stock after acquiring an additional 2,371 shares during the quarter. Bokf Na’s holdings in RLI were worth $657,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Murphy Pohlad Asset Management LLC bought a new position in shares of RLI in the fourth quarter valued at approximately $27,000. Intercontinental Wealth Advisors LLC bought a new position in shares of RLI in the fourth quarter valued at approximately $47,000. BlueMountain Capital Management LLC bought a new position in shares of RLI in the third quarter valued at approximately $121,000. FMR LLC bought a new position in shares of RLI in the third quarter valued at approximately $163,000. Finally, Ffcm LLC boosted its position in shares of RLI by 1,966.4% in the fourth quarter. Ffcm LLC now owns 2,397 shares of the insurance provider’s stock valued at $165,000 after acquiring an additional 2,281 shares during the period. Institutional investors own 88.60% of the company’s stock.
RLI has been the subject of several research analyst reports. Zacks Investment Research lowered shares of RLI from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th. Compass Point initiated coverage on shares of RLI in a research report on Tuesday, January 15th. They set a “sell” rating and a $48.00 target price for the company. Finally, TheStreet lowered shares of RLI from a “b” rating to a “c” rating in a research report on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $63.50.
Shares of RLI stock opened at $69.87 on Wednesday. RLI Corp has a 1 year low of $60.96 and a 1 year high of $79.98. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 34.08 and a beta of 0.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.37 and a quick ratio of 0.37.
RLI (NYSE:RLI) last announced its earnings results on Wednesday, January 23rd. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.24. RLI had a net margin of 7.84% and a return on equity of 10.96%. The business had revenue of $220.96 million during the quarter, compared to analyst estimates of $217.97 million. During the same period in the previous year, the business posted $1.21 earnings per share. Equities research analysts predict that RLI Corp will post 2.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Thursday, February 28th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, February 27th. This represents a $0.88 annualized dividend and a yield of 1.26%. RLI’s payout ratio is presently 42.93%.
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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, and mercantile.
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