California Public Employees Retirement System Has $28.23 Million Holdings in RLI Corp. (NYSE:RLI)

California Public Employees Retirement System cut its stake in RLI Corp. (NYSE:RLI) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 212,060 shares of the insurance provider’s stock after selling 1,001 shares during the period. California Public Employees Retirement System owned approximately 0.46% of RLI worth $28,229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in RLI by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock worth $147,097,000 after purchasing an additional 11,965 shares during the period. Van Berkom & Associates Inc. boosted its stake in RLI by 18.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 526,679 shares of the insurance provider’s stock worth $71,570,000 after purchasing an additional 80,552 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in RLI by 39.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 400,532 shares of the insurance provider’s stock worth $54,428,000 after purchasing an additional 112,988 shares during the period. Northern Trust Corp lifted its position in RLI by 0.9% during the 3rd quarter. Northern Trust Corp now owns 395,547 shares of the insurance provider’s stock worth $53,751,000 after buying an additional 3,562 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in RLI by 2.2% during the 3rd quarter. American Century Companies Inc. now owns 320,540 shares of the insurance provider’s stock worth $43,558,000 after buying an additional 6,896 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RLI has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Compass Point upped their target price on shares of RLI from $158.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada upped their target price on shares of RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, RLI currently has a consensus rating of “Moderate Buy” and an average price target of $163.25.

RLI Stock Down 1.7 %

RLI stock opened at $144.15 on Friday. The stock has a market cap of $6.59 billion, a P/E ratio of 19.91 and a beta of 0.37. RLI Corp. has a twelve month low of $123.04 and a twelve month high of $149.20. The company’s 50-day moving average price is $144.77 and its two-hundred day moving average price is $139.03.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. The firm had revenue of $444.80 million for the quarter, compared to analysts’ expectations of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The business’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. Equities analysts anticipate that RLI Corp. will post 5.74 earnings per share for the current fiscal year.

RLI Dividend Announcement

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

About RLI

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.