Vaughan David Investments Incil Lowers stake in RLI Corp. (RLI)

RLI Corp. (RLI) : Vaughan David Investments Incil reduced its stake in RLI Corp. by 0.57% during the most recent quarter end. The investment management company now holds a total of 421,322 shares of RLI Corp. which is valued at $29,003,806 after selling 2,396 shares in RLI Corp. , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.RLI Corp. makes up approximately 1.58% of Vaughan David Investments Incil’s portfolio.

Other Hedge Funds, Including , Blackrock Investment Management reduced its stake in RLI by selling 11,551 shares or 6.64% in the most recent quarter. The Hedge Fund company now holds 162,530 shares of RLI which is valued at $11,188,565. RLI Corp. makes up approx 0.01% of Blackrock Investment Management’s portfolio.Bb&t Securities boosted its stake in RLI in the latest quarter, The investment management firm added 888 additional shares and now holds a total of 18,054 shares of RLI Corp. which is valued at $1,241,754. RLI Corp. makes up approx 0.02% of Bb&t Securities’s portfolio.Great West Life Assurance Co Can boosted its stake in RLI in the latest quarter, The investment management firm added 44,962 additional shares and now holds a total of 49,282 shares of RLI Corp. which is valued at $3,366,946. RLI Corp. makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio.

RLI Corp. closed down -0.16 points or -0.23% at $69.32 with 85,429 shares getting traded on Friday. Post opening the session at $69.24, the shares hit an intraday low of $68.856 and an intraday high of $69.7 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, RLI Corp. reported $0.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $0.60. The company had revenue of $196.00 million for the quarter, compared to analysts expectations of $190.38 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.

Investors should note that on Aug 10, 2016, RLI Corp. announced a cash dividend of $0.2000. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 19, 2016.

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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