RLI Corp. (NYSE:RLI) Shares Sold by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC lessened its holdings in RLI Corp. (NYSE:RLI - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 151,228 shares of the insurance provider's stock after selling 3,472 shares during the period. RLI makes up 0.9% of Susquehanna Portfolio Strategies LLC's investment portfolio, making the stock its 26th largest position. Susquehanna Portfolio Strategies LLC owned 0.33% of RLI worth $21,276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RLI. American National Bank acquired a new stake in shares of RLI in the second quarter valued at $35,000. EverSource Wealth Advisors LLC grew its position in RLI by 45.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider's stock valued at $37,000 after acquiring an additional 77 shares in the last quarter. Riverview Trust Co purchased a new stake in RLI during the first quarter worth about $44,000. Intelligent Financial Strategies acquired a new stake in shares of RLI during the first quarter worth about $45,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of RLI by 468.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider's stock valued at $46,000 after purchasing an additional 253 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Price Performance

Shares of RLI stock traded up $0.25 during trading hours on Friday, hitting $153.94. The stock had a trading volume of 122,070 shares, compared to its average volume of 106,518. The stock's 50 day moving average is $150.01 and its 200 day moving average is $145.57. The firm has a market capitalization of $7.04 billion, a PE ratio of 21.27 and a beta of 0.41. RLI Corp. has a twelve month low of $125.77 and a twelve month high of $155.59.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.37. The company had revenue of $416.44 million for the quarter, compared to the consensus estimate of $561.60 million. RLI had a net margin of 20.78% and a return on equity of 18.33%. RLI's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. As a group, equities analysts predict that RLI Corp. will post 6.14 earnings per share for the current year.

RLI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Friday, August 30th. RLI's payout ratio is currently 16.02%.

Wall Street Analyst Weigh In

RLI has been the topic of a number of recent research reports. Compass Point cut their price objective on RLI from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group lowered their price objective on RLI from $170.00 to $165.00 and set a "buy" rating for the company in a research report on Friday, June 14th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods increased their target price on shares of RLI from $169.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $155.00 price target on shares of RLI in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, RLI presently has a consensus rating of "Moderate Buy" and a consensus target price of $166.25.

RLI Profile

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.