Shell Asset Management Co. Has $594,000 Holdings in RLI Corp. (NYSE:RLI)

Shell Asset Management Co. decreased its holdings in shares of RLI Corp. (NYSE:RLI) by 3.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,999 shares of the insurance provider’s stock after selling 145 shares during the period. Shell Asset Management Co.’s holdings in RLI were worth $594,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RLI. Maren Capital LLC boosted its stake in shares of RLI by 21.3% during the 1st quarter. Maren Capital LLC now owns 612,081 shares of the insurance provider’s stock worth $90,876,000 after buying an additional 107,655 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in RLI by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 411,787 shares of the insurance provider’s stock valued at $54,817,000 after purchasing an additional 11,255 shares during the last quarter. Norges Bank bought a new position in RLI in the fourth quarter valued at approximately $52,592,000. Global Alpha Capital Management Ltd. increased its position in shares of RLI by 9.5% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 231,388 shares of the insurance provider’s stock worth $30,802,000 after purchasing an additional 20,100 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of RLI by 65.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 203,046 shares of the insurance provider’s stock worth $27,029,000 after purchasing an additional 80,451 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

RLI Price Performance

Shares of RLI stock traded up $2.78 on Friday, hitting $145.58. 20,846 shares of the company’s stock were exchanged, compared to its average volume of 164,526. The stock has a market cap of $6.65 billion, a P/E ratio of 19.72 and a beta of 0.41. RLI Corp. has a 12 month low of $125.77 and a 12 month high of $149.20. The company has a 50 day moving average of $141.91 and a 200 day moving average of $142.73.

RLI (NYSE:RLI) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.37. RLI had a return on equity of 18.33% and a net margin of 20.78%. The business had revenue of $416.44 million for the quarter, compared to analyst estimates of $561.60 million. During the same quarter in the previous year, the company posted $1.16 EPS. RLI’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts predict that RLI Corp. will post 5.84 EPS for the current fiscal year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.16 annualized dividend and a dividend yield of 0.80%. This is an increase from RLI’s previous quarterly dividend of $0.27. RLI’s dividend payout ratio (DPR) is presently 16.02%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RLI shares. Compass Point lowered their target price on shares of RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday. JMP Securities restated a “market perform” rating on shares of RLI in a research note on Tuesday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 target price on shares of RLI in a research note on Friday, June 21st. Jefferies Financial Group lowered their price target on RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $155.00 price target on shares of RLI in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.50.

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.