Federated Hermes Inc. reduced its position in shares of RLI Corp. (NYSE:RLI – Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,374 shares of the insurance provider’s stock after selling 1,584 shares during the period. Federated Hermes Inc. owned about 0.22% of RLI worth $13,495,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. purchased a new position in shares of RLI during the fourth quarter worth $25,000. Gladius Capital Management LP boosted its holdings in RLI by 129.7% in the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 153 shares during the period. Quantbot Technologies LP purchased a new position in RLI in the third quarter valued at $60,000. Impact Partnership Wealth LLC purchased a new position in RLI in the third quarter valued at $127,000. Finally, Duncker Streett & Co. Inc. purchased a new position in RLI in the fourth quarter valued at $127,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.
RLI Stock Up 0.7 %
RLI stock opened at $141.25 on Tuesday. RLI Corp. has a 1-year low of $123.04 and a 1-year high of $149.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market cap of $6.46 billion, a PE ratio of 21.34 and a beta of 0.37. The stock’s fifty day moving average is $144.42 and its two-hundred day moving average is $138.79.
RLI Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Thursday, February 29th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Wednesday, February 28th. RLI’s dividend payout ratio is presently 16.31%.
Analysts Set New Price Targets
A number of research firms recently issued reports on RLI. Keefe, Bruyette & Woods lifted their target price on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $148.00 target price on shares of RLI in a report on Friday, January 26th.
Read Our Latest Research Report on RLI
RLI 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.
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