17,118 RLI Corp. $RLI Shares Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC lowered its position in shares of RLI Corp. (NYSE:RLI) by 70.1% in the 3rd quarter, Holdings Channel reports. The fund owned 7,307 shares of the insurance provider’s stock after selling 17,118 shares during the period. Curated Wealth Partners LLC’s holdings in RLI were worth $404,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in RLI during the 2nd quarter valued at about $492,175,000. Wasatch Advisors LP raised its holdings in shares of RLI by 40.7% during the second quarter. Wasatch Advisors LP now owns 3,631,273 shares of the insurance provider’s stock valued at $214,499,000 after buying an additional 1,051,318 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of RLI by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,920,823 shares of the insurance provider’s stock worth $109,567,000 after buying an additional 21,299 shares during the period. Maren Capital LLC grew its holdings in RLI by 1.6% in the 2nd quarter. Maren Capital LLC now owns 1,817,370 shares of the insurance provider’s stock worth $107,352,000 after buying an additional 28,366 shares in the last quarter. Finally, Port Capital LLC bought a new position in RLI in the 2nd quarter worth approximately $79,499,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analysts Set New Price Targets

RLI has been the topic of several analyst reports. Wall Street Zen upgraded RLI from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $74.00 price target (up from $70.00) on shares of RLI in a research report on Tuesday, July 28th. Wells Fargo & Company reissued an “underweight” rating and issued a $51.00 price target (down from $57.00) on shares of RLI in a research note on Monday. Jefferies Financial Group lowered RLI from a “hold” rating to an “underperform” rating and set a $53.00 price target on the stock. in a report on Tuesday, August 25th. Finally, UBS Group set a $74.00 price objective on shares of RLI in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, RLI has an average rating of “Reduce” and an average target price of $62.00.

RLI Trading Up 2.7%

RLI opened at $61.09 on Friday. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 17.34 and a beta of 0.36. The stock has a fifty day moving average price of $60.56 and a 200 day moving average price of $57.77. RLI Corp. has a 1 year low of $47.26 and a 1 year high of $67.12.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.11. The company had revenue of $575.57 million during the quarter, compared to the consensus estimate of $568.70 million. RLI had a return on equity of 17.61% and a net margin of 22.22%. The firm’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS. As a group, sell-side analysts forecast that RLI Corp. will post 2.90 earnings per share for the current fiscal year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. RLI’s dividend payout ratio is presently 15.13%.

RLI Profile

RLI Corp. is a specialty insurance company that underwrites a broad range of property and casualty insurance products for individuals, businesses and organizations. Its offerings include commercial casualty coverage, property insurance, surety bonds, transportation-related insurance, professional liability and personal umbrella policies.

The company serves specialty markets that may be underserved by standard insurance providers. RLI distributes its products through independent agents and brokers, with business conducted primarily throughout the United States and coverage available across many industries, professions and geographic regions.

RLI was founded in 1965 as Replacement Lens, Inc, initially providing replacement coverage for automobile windshield lenses before expanding into specialty insurance.