Shell Asset Management Co. Cuts Stock Position in RLI Corp. (NYSE:RLI)

Shell Asset Management Co. lessened its stake in shares of RLI Corp. (NYSE:RLIGet Rating) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,118 shares of the insurance provider’s stock after selling 468 shares during the quarter. Shell Asset Management Co.’s holdings in RLI were worth $345,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Versor Investments LP raised its stake in shares of RLI by 25.1% during the first quarter. Versor Investments LP now owns 2,627 shares of the insurance provider’s stock worth $291,000 after purchasing an additional 527 shares during the last quarter. Redmond Asset Management LLC raised its stake in shares of RLI by 2.0% during the first quarter. Redmond Asset Management LLC now owns 10,488 shares of the insurance provider’s stock worth $1,160,000 after purchasing an additional 208 shares during the last quarter. Jackson Creek Investment Advisors LLC raised its stake in shares of RLI by 7.0% during the first quarter. Jackson Creek Investment Advisors LLC now owns 10,905 shares of the insurance provider’s stock worth $1,206,000 after purchasing an additional 711 shares during the last quarter. Simplex Trading LLC purchased a new position in RLI in the first quarter worth $81,000. Finally, Whittier Trust Co. raised its position in RLI by 6.3% in the first quarter. Whittier Trust Co. now owns 65,664 shares of the insurance provider’s stock worth $7,264,000 after acquiring an additional 3,877 shares in the last quarter. Hedge funds and other institutional investors own 80.16% of the company’s stock.

RLI Stock Up 1.2 %

RLI stock opened at $109.05 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 29.31 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’s fifty day moving average is $113.83 and its two-hundred day moving average is $110.51.

RLI (NYSE:RLIGet Rating) last posted its 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 company had revenue of $213.09 million for the quarter, compared to analyst estimates of $299.99 million. RLI had a return on equity of 18.86% and a net margin of 15.88%. RLI’s revenue was down 28.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. Analysts predict that RLI Corp. will post 4.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Raymond James assumed coverage on RLI in a research report on Tuesday, June 7th. They issued a “market perform” rating for the company. Royal Bank of Canada increased their price objective on RLI from $112.00 to $123.00 and gave the stock a “sector perform” rating in a research report on Friday, April 22nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.25.

Insider Buying and Selling at RLI

In related news, Director Jordan W. Graham sold 1,000 shares of the stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $119.88, for a total transaction of $119,880.00. Following the sale, the director now owns 6,220 shares of the company’s stock, valued at $745,653.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.09% of the stock is owned by corporate insiders.

RLI Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for RLI (NYSE:RLI)

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