RLI Corp. (NYSE:RLI) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC trimmed its holdings in RLI Corp. (NYSE:RLIGet Rating) by 87.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,084 shares of the insurance provider’s stock after selling 7,843 shares during the period. Lazard Asset Management LLC’s holdings in RLI were worth $126,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. HM Payson & Co. acquired a new position in shares of RLI in the 1st quarter valued at approximately $40,000. Parallel Advisors LLC raised its position in shares of RLI by 30.3% during the 2nd quarter. Parallel Advisors LLC now owns 456 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 106 shares in the last quarter. Simplex Trading LLC acquired a new stake in shares of RLI during the 1st quarter valued at approximately $81,000. Covestor Ltd raised its position in shares of RLI by 52.4% during the 1st quarter. Covestor Ltd now owns 759 shares of the insurance provider’s stock valued at $84,000 after acquiring an additional 261 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of RLI during the 1st quarter valued at approximately $89,000. 81.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RLI. StockNews.com began coverage on RLI in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Compass Point dropped their price target on RLI to $150.00 in a research report on Wednesday, October 5th.

RLI Price Performance

Shares of RLI opened at $132.74 on Wednesday. The company has a market cap of $6.02 billion, a P/E ratio of 10.46 and a beta of 0.46. The stock has a fifty day moving average price of $116.64 and a 200 day moving average price of $115.15. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.56 and a quick ratio of 0.56. RLI Corp. has a 12 month low of $96.22 and a 12 month high of $134.80.

RLI (NYSE:RLIGet Rating) last issued its quarterly earnings data on Thursday, October 20th. The insurance provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates 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 company earned $0.65 EPS. On average, research analysts forecast that RLI Corp. will post 4.49 earnings per share for the current year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Wednesday, November 30th will be paid a dividend of $7.26 per share. This is an increase from RLI’s previous quarterly dividend of $0.26. This represents a $29.04 dividend on an annualized basis and a yield of 21.88%. The ex-dividend date of this dividend is Tuesday, November 29th. 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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