Bruce Lowers stake in RLI Corp. (RLI)

RLI Corp. (RLI) : Bruce reduced its stake in RLI Corp. by 57.97% during the most recent quarter end. The investment management company now holds a total of 47,120 shares of RLI Corp. which is valued at $3.1 Million after selling 65,000 shares in RLI Corp. , the firm said in a disclosure report filed with the SEC on May 13, 2016.RLI Corp. makes up approximately 0.97% of Bruce’s portfolio.

Other Hedge Funds, Including , State Of Tennessee Treasury Department boosted its stake in RLI in the latest quarter, The investment management firm added 710 additional shares and now holds a total of 30,110 shares of RLI Corp. which is valued at $2 Million. RLI Corp. makes up approx 0.01% of State Of Tennessee Treasury Department’s portfolio. Eaton Vance Management added RLI to its portfolio by purchasing 87,723 company shares during the most recent quarter which is valued at $5.8 Million. RLI Corp. makes up approx 0.02% of Eaton Vance Management’s portfolio.Manufacturers Life Insurance Company The boosted its stake in RLI in the latest quarter, The investment management firm added 208 additional shares and now holds a total of 28,476 shares of RLI Corp. which is valued at $1.9 Million.Jennison Associates reduced its stake in RLI by selling 1,416 shares or 4.19% in the most recent quarter. The Hedge Fund company now holds 32,362 shares of RLI which is valued at $2.1 Million.Aperio Group boosted its stake in RLI in the latest quarter, The investment management firm added 1,775 additional shares and now holds a total of 11,694 shares of RLI Corp. which is valued at $727,133. RLI Corp. makes up approx 0.01% of Aperio Group’s portfolio.

RLI Corp. closed down -0.59 points or -0.89% at $65.53 with 80,369 shares getting traded on Wednesday. Post opening the session at $65.98, the shares hit an intraday low of $65.49 and an intraday high of $66.1598 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, RLI Corp. reported $0.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.48. The company had revenue of $201.70 million for the quarter, compared to analysts expectations of $194.04 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

RLI Corp. underwrites selected property and casualty insurance through major subsidiaries collectively known as RLI Insurance Group. The Company conducts operations through four insurance companies. These companies are organized in a vertical structure beneath RLI Corp. with RLI Insurance Company (RLI Ins.) as the principal insurance subsidiary. RLI Ins. writes multiple lines of insurance on an admitted basis. Mt. Hawley Insurance Company (Mt. Hawley) a subsidiary of RLI Ins. writes excess and surplus lines insurance on an admitted basis. RLI Indemnity Company (RIC) a subsidiary of Mt. Hawley has authority to write multiple lines of insurance on an admitted basis in 48 states and the District of Columbia. Contractors Bonding and Insurance Company a subsidiary of RLI Ins. has authority to write multiple lines of insurance on an admitted basis in all 50 states and the District of Columbia. The segments of the Company’s insurance operations are casualty property and surety.

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