Mutual of America Capital Management LLC Has $3.30 Million Holdings in RLI Corp. (NYSE:RLI)

Mutual of America Capital Management LLC lessened its position in shares of RLI Corp. (NYSE:RLI) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,810 shares of the insurance provider’s stock after selling 1,274 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of RLI worth $3,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Morgan Stanley boosted its stake in RLI by 524.0% in the 4th quarter. Morgan Stanley now owns 1,364,598 shares of the insurance provider’s stock valued at $179,131,000 after buying an additional 1,145,896 shares in the last quarter. Norges Bank acquired a new stake in RLI in the 4th quarter valued at $32,847,000. Point72 Asset Management L.P. boosted its stake in RLI by 1,243.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 157,133 shares of the insurance provider’s stock valued at $21,444,000 after buying an additional 145,433 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in RLI by 37,822.0% in the 1st quarter. Balyasny Asset Management L.P. now owns 132,727 shares of the insurance provider’s stock valued at $17,641,000 after buying an additional 132,377 shares in the last quarter. Finally, Eaton Vance Management boosted its stake in RLI by 24.4% in the 1st quarter. Eaton Vance Management now owns 594,479 shares of the insurance provider’s stock valued at $65,767,000 after buying an additional 116,705 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Wall Street Analyst Weigh In

RLI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their price target on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 price objective on shares of RLI in a research report on Friday, January 26th.

RLI Trading Down 1.6 %

Shares of RLI opened at $135.70 on Thursday. The stock has a fifty day moving average price of $144.44 and a two-hundred day moving average price of $138.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. RLI Corp. has a 52-week low of $123.04 and a 52-week high of $149.65. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 20.50 and a beta of 0.37.

RLI (NYSE:RLI) last issued its quarterly earnings data on Tuesday, January 23rd. The insurance provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.10. RLI had a return on equity of 17.02% and a net margin of 20.15%. The firm had revenue of $433.52 million during the quarter, compared to the consensus estimate of $423.12 million. During the same quarter in the previous year, the company posted $1.53 EPS. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. Analysts predict that RLI Corp. will post 5.56 EPS for the current fiscal year.

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.80%. RLI’s payout ratio is currently 16.31%.

About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance. 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.