Yousif Capital Management LLC Sells 603 Shares of RLI Corp. (NYSE:RLI)

Yousif Capital Management LLC trimmed its stake in shares of RLI Corp. (NYSE:RLI) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,986 shares of the insurance provider’s stock after selling 603 shares during the quarter. Yousif Capital Management LLC’s holdings in RLI were worth $2,527,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. bought a new stake in shares of RLI during the third quarter valued at about $661,000. Envestnet Asset Management Inc. increased its holdings in RLI by 28.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 76,124 shares of the insurance provider’s stock worth $10,344,000 after acquiring an additional 16,725 shares during the period. Resonant Capital Advisors LLC lifted its stake in RLI by 1.7% in the 3rd quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider’s stock worth $642,000 after purchasing an additional 77 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in RLI by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock valued at $147,097,000 after purchasing an additional 11,965 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of RLI during the 3rd quarter valued at $840,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Trading Down 1.5 %

RLI opened at $141.95 on Tuesday. The stock has a market capitalization of $6.49 billion, a P/E ratio of 19.61 and a beta of 0.37. The stock has a 50-day moving average price of $144.78 and a 200-day moving average price of $139.11. RLI Corp. has a 12-month low of $123.04 and a 12-month high of $149.20.

RLI (NYSE:RLI) last issued its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.26. The business had revenue of $444.80 million during the quarter, compared to analyst estimates of $460.05 million. RLI had a return on equity of 17.24% and a net margin of 20.96%. RLI’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 earnings per share. On average, equities research analysts predict that RLI Corp. will post 5.74 EPS for the current year.

RLI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were given 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 payout ratio is presently 14.92%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RLI. Compass Point increased their price objective on RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods raised their price target 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 boosted their price objective on RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 24th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $163.25.

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.