RLI Corp. (RLI) : Palisade Capital Managementnj reduced its stake in RLI Corp. by 10.08% during the most recent quarter end. The investment management company now holds a total of 290,729 shares of RLI Corp. which is valued at $19,862,605 after selling 32,576 shares in RLI Corp. , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.RLI Corp. makes up approximately 0.84% of Palisade Capital Managementnj’s portfolio.
Other Hedge Funds, Including , Spot Trading L.l.c sold out all of its stake in RLI during the most recent quarter. The investment firm sold 1,222 shares of RLI which is valued $83,487.Next Financial Group Inc boosted its stake in RLI in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 206 shares of RLI Corp. which is valued at $14,010.
RLI Corp. closed down -0.09 points or -0.13% at $68.69 with 91,384 shares getting traded on Monday. Post opening the session at $68.74, the shares hit an intraday low of $68.431 and an intraday high of $69 and the price fluctuated in this range throughout the day.Shares ended Monday 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.
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 Companys insurance operations are casualty property and surety.