Mutual of America Capital Management LLC Sells 877 Shares of RLI Corp. (NYSE:RLI)

Mutual of America Capital Management LLC lowered its stake in shares of RLI Corp. (NYSE:RLI) by 3.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,933 shares of the insurance provider’s stock after selling 877 shares during the quarter. Mutual of America Capital Management LLC’s holdings in RLI were worth $3,553,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new stake in RLI during the first quarter worth approximately $73,000. Resonant Capital Advisors LLC boosted its position in RLI by 3.2% during the first quarter. Resonant Capital Advisors LLC now owns 4,436 shares of the insurance provider’s stock worth $659,000 after purchasing an additional 136 shares during the period. BNP Paribas Financial Markets boosted its position in RLI by 52.2% during the first quarter. BNP Paribas Financial Markets now owns 11,645 shares of the insurance provider’s stock worth $1,729,000 after purchasing an additional 3,993 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in RLI during the first quarter worth approximately $2,654,000. Finally, Norden Group LLC bought a new stake in RLI during the first quarter worth approximately $200,000. Institutional investors own 77.89% of the company’s stock.

RLI Trading Up 0.3 %

Shares of NYSE RLI opened at $139.25 on Friday. The business has a fifty day simple moving average of $142.80 and a 200 day simple moving average of $142.19. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 19.23 and a beta of 0.41. RLI Corp. has a one year low of $125.77 and a one year high of $149.20.

RLI (NYSE:RLI) last issued its earnings results on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. The business had revenue of $444.80 million during the quarter, compared to analyst estimates of $460.05 million. RLI had a return on equity of 17.24% and a net margin of 20.96%. RLI’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. On average, research analysts anticipate that RLI Corp. will post 5.85 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.83%. This is a positive change from RLI’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, May 31st. RLI’s dividend payout ratio is presently 16.02%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RLI shares. Royal Bank of Canada upped their target price on RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 24th. Compass Point upped their price target on RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group cut their price target on RLI from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, June 14th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 price target on shares of RLI in a report on Friday, June 21st. Finally, JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $165.75.

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.