27,378 RLI Corp. $RLI Shares Bought by Markel Group Inc.

by · The Cerbat Gem

Markel Group Inc. grew its position in RLI Corp. (NYSE:RLI – Free Report) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,421,922 shares of the insurance provider’s stock after purchasing an additional 27,378 shares during the quarter. RLI makes up 1.0% of Markel Group Inc.’s investment portfolio, making the stock its 27th largest position. Markel Group Inc.’s holdings in RLI were worth $133,957,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Compass Wealth Management LLC purchased a new position in RLI in the third quarter valued at $27,000. Farther Finance Advisors LLC raised its stake in RLI by 62.1% in the third quarter. Farther Finance Advisors LLC now owns 629 shares of the insurance provider’s stock valued at $35,000 after buying an additional 241 shares in the last quarter. Versant Capital Management Inc lifted its holdings in RLI by 28.5% during the 2nd quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock worth $49,000 after buying an additional 185 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in RLI during the 2nd quarter worth about $126,000. Finally, Nykredit A S purchased a new stake in RLI during the 2nd quarter worth about $179,000. 77.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on RLI. Weiss Ratings upgraded RLI from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 28th. Wall Street Zen upgraded RLI from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Wells Fargo & Company set a $53.00 target price on RLI and gave the stock an “underweight” rating in a research note on Wednesday, October 21st. UBS Group set a $74.00 price target on RLI in a report on Tuesday, July 28th. Finally, Jefferies Financial Group lowered shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 price target on the stock. in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, RLI currently has a consensus rating of “Reduce” and a consensus price target of $62.40.

View Our Latest Research Report on RLI

RLI Price Performance

Shares of NYSE:RLI opened at $66.82 on Wednesday. The company’s fifty day moving average price is $60.72 and its 200 day moving average price is $58.77. RLI Corp. has a 12 month low of $47.26 and a 12 month high of $67.83. The firm has a market capitalization of $6.13 billion, a P/E ratio of 19.43 and a beta of 0.31.

RLI (NYSE:RLI – Get Free Report) last announced its quarterly earnings results on Monday, October 19th. The insurance provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.32. RLI had a net margin of 20.34% and a return on equity of 18.19%. The firm had revenue of $476.96 million during the quarter, compared to analysts’ expectations of $533.51 million. During the same period in the previous year, the company earned $0.83 earnings per share. On average, sell-side analysts anticipate that RLI Corp. will post 3.15 EPS for the current year.

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.18 per share. The ex-dividend date was Monday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. RLI’s payout ratio is 16.78%.

About RLI

(Free Report)

RLI Corp. (NYSE: RLI) is a specialty insurance company that underwrites property and casualty insurance products for commercial and personal customers. The company focuses on specialized risks that may not be adequately served by standard insurance carriers.

RLI’s offerings include commercial property and casualty coverage, professional liability insurance, surety bonds, transportation-related insurance, and personal lines such as homeowners and personal umbrella coverage. Its products are distributed through independent agents, brokers, and other insurance intermediaries.

Founded in 1965 and headquartered in Peoria, Illinois, RLI serves customers primarily throughout the United States.

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