Van Berkom & Associates Inc. increased its position in RLI Corp. (NYSE:RLI) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 910,801 shares of the insurance provider’s stock after purchasing an additional 34,841 shares during the period. Van Berkom & Associates Inc. owned 2.06% of RLI worth $57,736,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of RLI. Port Capital LLC purchased a new stake in shares of RLI in the 4th quarter valued at about $10,292,000. BlackRock Inc. lifted its holdings in shares of RLI by 3.3% in the 4th quarter. BlackRock Inc. now owns 4,925,896 shares of the insurance provider’s stock valued at $298,806,000 after purchasing an additional 158,009 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of RLI by 15.2% in the 4th quarter. Royce & Associates LP now owns 610,918 shares of the insurance provider’s stock valued at $37,058,000 after purchasing an additional 80,458 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of RLI by 9.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 929,157 shares of the insurance provider’s stock valued at $56,363,000 after purchasing an additional 77,014 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of RLI by 224.3% in the 4th quarter. Arizona State Retirement System now owns 65,167 shares of the insurance provider’s stock valued at $3,953,000 after purchasing an additional 45,073 shares during the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.
Shares of RLI opened at $66.64 on Monday, Marketbeat.com reports. The stock has a market capitalization of $2.97 billion, a P/E ratio of 38.11 and a beta of 1.23. RLI Corp. has a 52-week low of $66.64 and a 52-week high of $66.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.35 and a current ratio of 0.35.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Thursday, May 31st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.32%. The ex-dividend date is Wednesday, May 30th. This is a boost from RLI’s previous quarterly dividend of $0.21. RLI’s payout ratio is 52.17%.
In related news, Director Michael J. Stone sold 1,013 shares of the business’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $61.52, for a total value of $62,319.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kaj Ahlmann sold 1,570 shares of the business’s stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $63.45, for a total value of $99,616.50. The disclosure for this sale can be found here. Insiders sold a total of 18,588 shares of company stock worth $1,184,695 in the last 90 days. 5.54% of the stock is currently owned by insiders.
RLI has been the topic of several recent research reports. Zacks Investment Research upgraded RLI from a “sell” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Tuesday, April 17th. ValuEngine upgraded RLI from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $59.33.
RLI Company 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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