Amalgamated Bank Reduces Stake in RLI Corp. (NYSE:RLI)

Amalgamated Bank lessened its position in RLI Corp. (NYSE:RLIFree Report) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,553 shares of the insurance provider’s stock after selling 322 shares during the quarter. Amalgamated Bank’s holdings in RLI were worth $3,744,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of RLI. Resonant Capital Advisors LLC lifted its stake in RLI by 1.7% during the third quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider’s stock worth $642,000 after purchasing an additional 77 shares during the last quarter. Advisor Partners II LLC grew its position in RLI by 2.2% during the 1st quarter. Advisor Partners II LLC now owns 4,038 shares of the insurance provider’s stock worth $537,000 after purchasing an additional 87 shares during the last quarter. Mackenzie Financial Corp raised its stake in RLI by 4.3% during the 1st quarter. Mackenzie Financial Corp now owns 2,171 shares of the insurance provider’s stock valued at $240,000 after acquiring an additional 89 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of RLI by 1.0% during the first quarter. Lazard Asset Management LLC now owns 8,927 shares of the insurance provider’s stock worth $986,000 after purchasing an additional 89 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. lifted its holdings in shares of RLI by 3.2% during the second quarter. Argonautica Private Wealth Management Inc. now owns 2,925 shares of the insurance provider’s stock worth $399,000 after purchasing an additional 90 shares during the period. 79.23% of the stock is owned by hedge funds and other institutional investors.

RLI Price Performance

Shares of RLI opened at $137.22 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $136.00 and its two-hundred day moving average is $135.26. RLI Corp. has a twelve month low of $123.04 and a twelve month high of $149.65. The firm has a market capitalization of $6.26 billion, a PE ratio of 20.73 and a beta of 0.37.

RLI (NYSE:RLIGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The insurance provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.10. The firm had revenue of $433.52 million for the quarter, compared to the consensus estimate of $423.12 million. RLI had a return on equity of 17.02% and a net margin of 20.15%. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 earnings per share. Research analysts anticipate that RLI Corp. will post 5.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 price objective on shares of RLI in a research note on Friday, January 26th.

View Our Latest Stock Report on RLI

RLI Company Profile

(Free Report)

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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