RLI Corp. $RLI Shares Sold by ARS Wealth Advisors Group LLC

ARS Wealth Advisors Group LLC reduced its holdings in RLI Corp. (NYSE:RLI) by 11.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,660 shares of the insurance provider’s stock after selling 466 shares during the quarter. ARS Wealth Advisors Group LLC’s holdings in RLI were worth $264,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund increased its position in RLI by 100.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 19,526 shares of the insurance provider’s stock valued at $1,569,000 after acquiring an additional 9,763 shares during the period. New York State Teachers Retirement System boosted its stake in shares of RLI by 99.6% during the 1st quarter. New York State Teachers Retirement System now owns 112,616 shares of the insurance provider’s stock worth $9,046,000 after acquiring an additional 56,208 shares in the last quarter. Empower Advisory Group LLC boosted its stake in shares of RLI by 105.5% during the 1st quarter. Empower Advisory Group LLC now owns 253,074 shares of the insurance provider’s stock worth $20,329,000 after acquiring an additional 129,901 shares in the last quarter. Alaska Permanent Fund Corp boosted its stake in shares of RLI by 100.0% during the 1st quarter. Alaska Permanent Fund Corp now owns 41,476 shares of the insurance provider’s stock worth $3,070,000 after acquiring an additional 20,738 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of RLI by 255.2% during the 1st quarter. Hsbc Holdings PLC now owns 11,321 shares of the insurance provider’s stock worth $909,000 after acquiring an additional 8,134 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Price Performance

RLI opened at $65.69 on Friday. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 18.82 and a beta of 0.65. RLI Corp. has a 1 year low of $64.74 and a 1 year high of $91.14. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average price of $67.58 and a 200 day moving average price of $72.42.

RLI (NYSE:RLI) last released its quarterly earnings data on Monday, July 21st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. RLI had a return on equity of 15.82% and a net margin of 17.81%.The firm had revenue of $562.28 million during the quarter, compared to analysts’ expectations of $445.55 million. During the same quarter last year, the firm earned $1.72 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Analysts forecast that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 29th. RLI’s dividend payout ratio (DPR) is 18.34%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $78.60.

Insiders Place Their Bets

In related news, COO Jennifer L. Klobnak bought 3,000 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were bought at an average cost of $69.15 per share, for a total transaction of $207,450.00. Following the completion of the acquisition, the chief operating officer directly owned 98,450 shares in the company, valued at approximately $6,807,817.50. This represents a 3.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.16% of the stock is currently owned by company insiders.

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.