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Insurance

Simplex Trading LLC Invests $81,000 in RLI Corp. (NYSE:RLI)


Simplex Trading LLC acquired a new position in shares of RLI Corp. (NYSE:RLI – Get Rating) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 741 shares of the insurance provider’s stock, valued at approximately $81,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RLI. Brookstone Capital Management raised its stake in shares of RLI by 3.7% during the first quarter. Brookstone Capital Management now owns 2,998 shares of the insurance provider’s stock worth $323,000 after acquiring an additional 107 shares in the last quarter. Parallel Advisors LLC lifted its stake in RLI by 44.0% in the first quarter. Parallel Advisors LLC now owns 350 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 107 shares during the last quarter. Resonant Capital Advisors LLC boosted its position in RLI by 2.7% during the first quarter. Resonant Capital Advisors LLC now owns 4,120 shares of the insurance provider’s stock valued at $467,000 after buying an additional 109 shares during the period. M&T Bank Corp grew its stake in shares of RLI by 1.4% during the fourth quarter. M&T Bank Corp now owns 8,858 shares of the insurance provider’s stock valued at $993,000 after buying an additional 118 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of RLI by 18.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 936 shares of the insurance provider’s stock worth $105,000 after buying an additional 145 shares during the period. 80.16% of the stock is currently owned by hedge funds and other institutional investors.

RLI Trading Up 1.5 %

NYSE RLI opened at $116.66 on Monday. The stock has a market cap of $5.29 billion, a P/E ratio of 31.36 and a beta of 0.34. RLI Corp. has a fifty-two week low of $96.22 and a fifty-two week high of $121.93. The stock has a 50 day simple moving average of $113.14 and a two-hundred day simple moving average of $110.91. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.43 and a current ratio of 0.43.

RLI (NYSE:RLI – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The insurance provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.47. The business had revenue of $213.09 million for the quarter, compared to analysts’ expectations of $299.99 million. RLI has a net margin of 15.88% and a return on equity of 18.86%. The firm’s revenue for the quarter was down 28.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, analysts forecast that RLI Corp. will post 4.85 earnings per share for the current year.

Analysts Set New Price Targets

RLI has been the subject of several analyst reports. Royal Bank of Canada increased their target price on RLI from $112.00 to $123.00 and gave the company a “sector perform” rating in a report on Friday, April 22nd. Raymond James started coverage on shares of RLI in a report on Tuesday, June 7th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.25.

Insider Activity

In related news, Director Jordan W. Graham sold 1,000 shares of the stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $119.88, for a total value of $119,880.00. Following the completion of the transaction, the director now directly owns 6,220 shares of the company’s stock, valued at $745,653.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.09% of the company’s stock.

About RLI

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RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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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Institutional Ownership by Quarter for RLI (NYSE:RLI)



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