Shell Asset Management Co. Sells 93 Shares of RLI Corp. (NYSE:RLI)

Shell Asset Management Co. reduced its holdings in RLI Corp. (NYSE:RLIFree Report) by 1.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,382 shares of the insurance provider’s stock after selling 93 shares during the period. Shell Asset Management Co.’s holdings in RLI were worth $731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of RLI by 39.3% during 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. Swiss National Bank boosted its stake in shares of RLI by 1.0% during the 3rd quarter. Swiss National Bank now owns 90,200 shares of the insurance provider’s stock worth $12,257,000 after purchasing an additional 900 shares during the period. New York Life Investment Management LLC boosted its stake in shares of RLI by 112.7% during the 3rd quarter. New York Life Investment Management LLC now owns 4,288 shares of the insurance provider’s stock worth $583,000 after purchasing an additional 2,272 shares during the period. Quantbot Technologies LP purchased a new position in shares of RLI during the 3rd quarter worth about $60,000. Finally, New York State Common Retirement Fund boosted its stake in shares of RLI by 8.7% during the 3rd quarter. New York State Common Retirement Fund now owns 124,977 shares of the insurance provider’s stock worth $16,983,000 after purchasing an additional 10,011 shares during the period. 79.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

View Our Latest Analysis on RLI

RLI Price Performance

RLI stock opened at $140.97 on Friday. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 21.29 and a beta of 0.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. RLI Corp. has a 1 year low of $123.04 and a 1 year high of $149.65. The firm has a 50-day moving average of $136.13 and a two-hundred day moving average of $135.28.

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

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.

Further Reading

Institutional Ownership by Quarter for RLI (NYSE:RLI)

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