RLI Corp. (NYSE:RLI) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in shares of RLI Corp. (NYSE:RLI) by 4.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 27,142 shares of the insurance provider’s stock after selling 1,254 shares during the quarter. Truist Financial Corp’s holdings in RLI were worth $2,722,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. increased its position in RLI by 4.6% during the third quarter. Advisor Group Holdings Inc. now owns 3,837 shares of the insurance provider’s stock worth $384,000 after buying an additional 170 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of RLI by 11.7% in the third quarter. PNC Financial Services Group Inc. now owns 6,407 shares of the insurance provider’s stock valued at $643,000 after purchasing an additional 669 shares during the period. Brookstone Capital Management increased its holdings in shares of RLI by 30.6% in the third quarter. Brookstone Capital Management now owns 2,771 shares of the insurance provider’s stock valued at $282,000 after purchasing an additional 649 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of RLI by 16.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 33,424 shares of the insurance provider’s stock valued at $3,351,000 after purchasing an additional 4,671 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in shares of RLI by 23.9% in the third quarter. New York State Common Retirement Fund now owns 96,555 shares of the insurance provider’s stock valued at $9,682,000 after purchasing an additional 18,646 shares during the period. 80.10% of the stock is currently owned by institutional investors.

RLI opened at $110.10 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.42 and a current ratio of 0.42. RLI Corp. has a one year low of $95.53 and a one year high of $117.84. The business’s fifty day moving average is $110.42 and its two-hundred day moving average is $107.48. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 18.76 and a beta of 0.39.

RLI (NYSE:RLI) last issued its quarterly earnings data on Tuesday, October 19th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.13. RLI had a return on equity of 12.83% and a net margin of 23.09%. The business had revenue of $270.47 million for the quarter, compared to the consensus estimate of $266.17 million. During the same period in the prior year, the business earned $0.42 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. On average, analysts predict that RLI Corp. will post 3.5 EPS for the current fiscal year.

The business also recently disclosed a None dividend, which was paid on Monday, December 20th. Stockholders of record on Tuesday, November 30th were given a $2.25 dividend. This is an increase from RLI’s previous None dividend of $1.24. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, November 29th. RLI’s dividend payout ratio is currently 17.04%.

A number of research firms have recently issued reports on RLI. Zacks Investment Research lowered RLI from a “buy” rating to a “hold” rating and set a $118.00 target price on the stock. in a report on Tuesday. Keefe, Bruyette & Woods raised RLI from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $109.00 to $120.00 in a report on Tuesday, October 19th. Royal Bank of Canada upped their price objective on RLI from $110.00 to $112.00 and gave the stock a “sector perform” rating in a report on Friday, October 22nd. Finally, B. Riley reaffirmed a “buy” rating on shares of RLI in a report on Thursday, November 11th.

RLI Company Profile

RLI Corp. operates as a holding company, which engages in the provision of insurance and underwriting services. It operates through the following segments: Casualty, Property and Surety. The Casualty segment offers healthcare and transportation insurance. The Property segment consists of commercial fire, earthquake, difference in conditions, marine, facultative and treaty reinsurance, including crop and select personal lines policies, including pet insurance and homeowners reinsurance services.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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