Retirement Systems of Alabama Grows Stock Holdings in RLI Corp. (NYSE:RLI)

Retirement Systems of Alabama grew its position in shares of RLI Corp. (NYSE:RLI) by 20.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,886 shares of the insurance provider’s stock after buying an additional 19,286 shares during the quarter. Retirement Systems of Alabama’s holdings in RLI were worth $14,894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Resonant Capital Advisors LLC lifted its position in RLI by 1.7% during the third quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider’s stock valued at $642,000 after purchasing an additional 77 shares during the period. Treasurer of the State of North Carolina lifted its position in RLI by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 17,660 shares of the insurance provider’s stock valued at $2,400,000 after purchasing an additional 90 shares during the period. Brookstone Capital Management raised its position in RLI by 6.4% in the fourth quarter. Brookstone Capital Management now owns 1,906 shares of the insurance provider’s stock worth $254,000 after acquiring an additional 114 shares during the period. Harbor Capital Advisors Inc. raised its position in RLI by 12.6% in the third quarter. Harbor Capital Advisors Inc. now owns 1,072 shares of the insurance provider’s stock worth $146,000 after acquiring an additional 120 shares during the period. Finally, Diversified Trust Co raised its position in RLI by 2.9% in the third quarter. Diversified Trust Co now owns 5,261 shares of the insurance provider’s stock worth $715,000 after acquiring an additional 150 shares during the period. Institutional investors own 77.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RLI shares. Royal Bank of Canada increased their price target on shares of RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 24th. JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Tuesday, April 23rd. Compass Point increased their price target on shares of RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods increased their price target on shares of RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.25.

RLI Price Performance

Shares of RLI stock opened at $143.19 on Thursday. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 19.78 and a beta of 0.37. RLI Corp. has a one year low of $123.04 and a one year high of $149.20. The company’s fifty day moving average price is $144.79 and its 200-day moving average price is $139.19.

RLI (NYSE:RLI) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.63 by $0.26. The firm had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The company’s revenue was up 21.9% on a year-over-year basis. During the same period last year, the firm earned $1.63 EPS. Equities research analysts expect that RLI Corp. will post 5.74 earnings per share for the current fiscal year.

RLI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.08 annualized dividend and a yield of 0.75%. RLI’s payout ratio is 14.92%.

RLI Company Profile

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.