Principal Financial Group Inc. Has $21.43 Million Stake in RLI Corp. (NYSE:RLI)

Principal Financial Group Inc. raised its holdings in RLI Corp. (NYSE:RLIGet Rating) by 32.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 183,772 shares of the insurance provider’s stock after acquiring an additional 45,151 shares during the period. Principal Financial Group Inc.’s holdings in RLI were worth $21,426,000 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 RLI. Comerica Bank grew its stake in RLI by 5.1% in the first quarter. Comerica Bank now owns 19,212 shares of the insurance provider’s stock valued at $2,184,000 after acquiring an additional 934 shares during the period. Parallel Advisors LLC lifted its holdings in shares of RLI by 44.0% in the first quarter. Parallel Advisors LLC now owns 350 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 107 shares in the last quarter. Simplex Trading LLC bought a new stake in shares of RLI in the first quarter valued at about $81,000. Versor Investments LP lifted its holdings in shares of RLI by 25.1% in the first quarter. Versor Investments LP now owns 2,627 shares of the insurance provider’s stock valued at $291,000 after purchasing an additional 527 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of RLI by 0.9% in the first quarter. Envestnet Asset Management Inc. now owns 67,868 shares of the insurance provider’s stock valued at $7,508,000 after purchasing an additional 592 shares in the last quarter. 81.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RLI has been the topic of a number of research reports. Compass Point cut their price target on RLI to $150.00 in a report on Wednesday, October 5th. StockNews.com initiated coverage on RLI in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

RLI Stock Performance

RLI opened at $130.25 on Monday. RLI Corp. has a 52-week low of $96.22 and a 52-week high of $134.80. The firm has a market capitalization of $5.91 billion, a PE ratio of 10.26 and a beta of 0.46. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50-day simple moving average is $115.88 and its 200 day simple moving average is $114.94.

RLI (NYSE:RLIGet Rating) last released its earnings results on Thursday, October 20th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.39). RLI had a return on equity of 17.73% and a net margin of 34.98%. During the same period in the prior year, the business posted $0.65 EPS. As a group, sell-side analysts expect that RLI Corp. will post 4.49 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Wednesday, November 30th will be issued a dividend of $7.26 per share. This represents a $29.04 annualized dividend and a yield of 22.30%. The ex-dividend date of this dividend is Tuesday, November 29th. This is a positive change from RLI’s previous quarterly dividend of $0.26. RLI’s dividend payout ratio is presently 8.20%.

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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