Texas Permanent School Fund Corp Has $2.74 Million Stake in RLI Corp. $RLI

Texas Permanent School Fund Corp reduced its position in shares of RLI Corp. (NYSE:RLI) by 32.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,926 shares of the insurance provider’s stock after selling 18,127 shares during the quarter. Texas Permanent School Fund Corp’s holdings in RLI were worth $2,739,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allianz Asset Management GmbH increased its stake in shares of RLI by 2.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 7,104 shares of the insurance provider’s stock worth $513,000 after purchasing an additional 163 shares during the last quarter. Signaturefd LLC grew its holdings in RLI by 16.0% during the second quarter. Signaturefd LLC now owns 1,240 shares of the insurance provider’s stock worth $90,000 after purchasing an additional 171 shares during the period. Vista Finance LLC increased its position in RLI by 4.0% during the second quarter. Vista Finance LLC now owns 4,655 shares of the insurance provider’s stock worth $336,000 after buying an additional 181 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in RLI by 6.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,341 shares of the insurance provider’s stock worth $241,000 after buying an additional 195 shares during the last quarter. Finally, Brookstone Capital Management raised its stake in RLI by 5.6% in the second quarter. Brookstone Capital Management now owns 3,876 shares of the insurance provider’s stock valued at $280,000 after buying an additional 207 shares during the period. Institutional investors own 77.89% of the company’s stock.

RLI Price Performance

Shares of NYSE RLI opened at $65.60 on Friday. The firm has a market cap of $6.02 billion, a P/E ratio of 17.22 and a beta of 0.56. The business’s 50 day moving average is $62.33 and its 200-day moving average is $66.31. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.05. RLI Corp. has a 1-year low of $57.75 and a 1-year high of $84.71.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The business had revenue of $509.26 million during the quarter, compared to the consensus estimate of $444.75 million. During the same period in the previous year, the company posted $1.31 EPS. Equities research analysts predict that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 28th were paid a $0.16 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. RLI’s dividend payout ratio is 16.80%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RLI shares. Truist Financial set a $62.00 target price on RLI and gave the stock a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $72.80.

About RLI

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.