Whittier Trust Co. of Nevada Inc. Has $6.99 Million Stake in RLI Corp. (NYSE:RLI)

by · The Cerbat Gem

Whittier Trust Co. of Nevada Inc. raised its stake in shares of RLI Corp. (NYSE:RLI – Free Report) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,126 shares of the insurance provider’s stock after buying an additional 1,630 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned about 0.10% of RLI worth $6,993,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whittier Trust Co. grew its holdings in RLI by 4.6% during the third quarter. Whittier Trust Co. now owns 87,580 shares of the insurance provider’s stock valued at $13,573,000 after purchasing an additional 3,835 shares during the period. Nepsis Inc. grew its holdings in shares of RLI by 19.1% in the 3rd quarter. Nepsis Inc. now owns 124,156 shares of the insurance provider’s stock valued at $19,242,000 after buying an additional 19,940 shares during the period. Raymond James & Associates increased its position in shares of RLI by 2.9% in the 3rd quarter. Raymond James & Associates now owns 73,514 shares of the insurance provider’s stock valued at $11,393,000 after buying an additional 2,072 shares in the last quarter. Blue Trust Inc. raised its stake in RLI by 138.0% during the 3rd quarter. Blue Trust Inc. now owns 2,156 shares of the insurance provider’s stock worth $334,000 after buying an additional 1,250 shares during the period. Finally, Laurus Investment Counsel Inc. grew its stake in RLI by 53.2% in the third quarter. Laurus Investment Counsel Inc. now owns 10,280 shares of the insurance provider’s stock valued at $1,593,000 after acquiring an additional 3,570 shares during the period. 77.89% of the stock is owned by institutional investors.

RLI Stock Down 0.6 %

RLI traded down $0.99 during trading hours on Monday, hitting $162.00. 167,158 shares of the company’s stock were exchanged, compared to its average volume of 152,416. RLI Corp. has a 1-year low of $125.77 and a 1-year high of $164.25. The stock’s 50-day moving average is $153.60 and its two-hundred day moving average is $146.74. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 22.31 and a beta of 0.41.

RLI (NYSE:RLI – Get Free Report) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.37. RLI had a return on equity of 18.33% and a net margin of 20.78%. The company had revenue of $416.44 million during the quarter, compared to analysts’ expectations of $561.60 million. During the same quarter last year, the company earned $1.16 EPS. RLI’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that RLI Corp. will post 6.14 EPS for the current year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, August 30th. RLI’s dividend payout ratio is currently 16.02%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Compass Point dropped their price target on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods lifted their price target on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $162.00 price objective on shares of RLI in a research report on Tuesday, October 8th. Wolfe Research began coverage on shares of RLI in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price objective on the stock. Finally, Jefferies Financial Group increased their target price on RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.80.

Get Our Latest Analysis on RLI

About RLI

(Free Report)

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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