Van Berkom & Associates Inc. Trims Stock Position in RLI Corp (NYSE:RLI)

Van Berkom & Associates Inc. lowered its position in shares of RLI Corp (NYSE:RLI) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 845,246 shares of the insurance provider’s stock after selling 8,091 shares during the period. RLI accounts for about 2.1% of Van Berkom & Associates Inc.’s holdings, making the stock its 19th biggest position. Van Berkom & Associates Inc. owned 1.89% of RLI worth $72,446,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of RLI. JPMorgan Chase & Co. grew its stake in RLI by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 1,482,889 shares of the insurance provider’s stock valued at $106,397,000 after acquiring an additional 260,243 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in RLI during the second quarter valued at approximately $13,904,000. BlackRock Inc. grew its stake in RLI by 1.6% during the second quarter. BlackRock Inc. now owns 5,762,035 shares of the insurance provider’s stock valued at $493,862,000 after acquiring an additional 88,848 shares in the last quarter. Morgan Stanley grew its stake in RLI by 36.8% during the second quarter. Morgan Stanley now owns 299,052 shares of the insurance provider’s stock valued at $25,632,000 after acquiring an additional 80,514 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in RLI by 3.2% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,023,707 shares of the insurance provider’s stock valued at $173,453,000 after acquiring an additional 62,645 shares in the last quarter. 88.22% of the stock is owned by institutional investors.

In other news, Director Michael E. Angelina purchased 1,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average cost of $90.79 per share, for a total transaction of $90,790.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Stone sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $91.94, for a total transaction of $1,379,100.00. The disclosure for this sale can be found here. Insiders own 5.01% of the company’s stock.



RLI stock traded up $1.24 during mid-day trading on Wednesday, hitting $92.99. 3,890 shares of the company traded hands, compared to its average volume of 104,474. RLI Corp has a one year low of $64.48 and a one year high of $94.54. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 45.37 and a beta of 0.76. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a fifty day moving average price of $91.17 and a 200-day moving average price of $83.42.

RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, July 17th. The insurance provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. The firm had revenue of $224.54 million during the quarter, compared to analyst estimates of $227.16 million. RLI had a net margin of 13.63% and a return on equity of 11.34%. During the same period in the previous year, the business posted $0.60 EPS. Sell-side analysts predict that RLI Corp will post 2.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.99%. RLI’s payout ratio is 44.88%.

Several brokerages recently commented on RLI. Keefe, Bruyette & Woods lifted their target price on shares of RLI from $81.00 to $88.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Royal Bank of Canada set a $84.00 target price on shares of RLI and gave the company a “hold” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $76.80.

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, and mercantile.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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