BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys Shares of 841 RLI Corp. $RLI

BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of RLI Corp. (NYSE:RLI) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 841 shares of the insurance provider’s stock, valued at approximately $61,000.

Several other hedge funds have also recently added to or reduced their stakes in RLI. Caitong International Asset Management Co. Ltd increased its holdings in RLI by 7,300.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 365 shares in the last quarter. Chung Wu Investment Group LLC purchased a new position in RLI during the 2nd quarter valued at about $29,000. Hantz Financial Services Inc. increased its holdings in RLI by 3,645.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 401 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in RLI by 100.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 198 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in RLI during the 2nd quarter valued at about $37,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Price Performance

RLI opened at $60.64 on Thursday. The company’s 50 day simple moving average is $63.81 and its 200 day simple moving average is $68.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35. RLI Corp. has a 1 year low of $57.75 and a 1 year high of $91.14. The stock has a market capitalization of $5.57 billion, a PE ratio of 15.92 and a beta of 0.61.

RLI (NYSE:RLI) last released its earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.21. RLI had a net margin of 19.02% and a return on equity of 16.51%. The business had revenue of $510.22 million for the quarter, compared to analysts’ expectations of $444.75 million. During the same period last year, the company earned $1.31 earnings per share. As a group, sell-side analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. RLI’s dividend payout ratio (DPR) is currently 16.80%.

Wall Street Analysts Forecast Growth

RLI has been the topic of several analyst reports. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Truist Financial set a $62.00 price target on shares of RLI and gave the stock a “hold” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $72.80.

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.