Zurcher Kantonalbank Zurich Cantonalbank Has $1.27 Million Stake in RLI Corp. (NYSE:RLI)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in RLI Corp. (NYSE:RLI) by 17.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,525 shares of the insurance provider’s stock after purchasing an additional 1,413 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RLI were worth $1,268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. acquired a new stake in shares of RLI in the fourth quarter valued at about $25,000. Gladius Capital Management LP increased its position in shares of RLI by 129.7% in the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 153 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of RLI in the third quarter valued at about $60,000. Harbor Capital Advisors Inc. increased its position in shares of RLI by 12.6% in the third quarter. Harbor Capital Advisors Inc. now owns 1,072 shares of the insurance provider’s stock valued at $146,000 after acquiring an additional 120 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of RLI in the third quarter valued at about $207,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Trading Down 1.7 %

Shares of NYSE:RLI opened at $144.15 on Friday. RLI Corp. has a 12-month low of $123.04 and a 12-month high of $149.20. The stock has a market cap of $6.59 billion, a PE ratio of 19.91 and a beta of 0.37. The business has a 50 day moving average of $144.77 and a 200-day moving average of $139.01. The company has a quick ratio of 0.38, a current ratio of 0.39 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. RLI had a return on equity of 17.24% and a net margin of 20.96%. The company had revenue of $444.80 million during the quarter, compared to analysts’ expectations of $460.05 million. During the same quarter in the previous year, the company posted $1.63 earnings per share. The business’s revenue was up 21.9% on a year-over-year basis. As a group, equities research analysts forecast that RLI Corp. will post 5.64 earnings per share for the current year.

RLI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Wednesday, February 28th. RLI’s dividend payout ratio is presently 14.92%.

Analyst Ratings Changes

A number of research firms recently issued reports on RLI. Keefe, Bruyette & Woods lifted their target price on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday. Royal Bank of Canada lifted their price target on RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Compass Point lifted their price target on RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.25.

RLI 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.