RLI Corp. (RLI) : Snyder Capital Management L P reduced its stake in RLI Corp. by 15.92% during the most recent quarter end. The investment management company now holds a total of 481,773 shares of RLI Corp. which is valued at $33,165,253 after selling 91,233 shares in RLI Corp. , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.RLI Corp. makes up approximately 2.07% of Snyder Capital Management L P’s portfolio.
Other Hedge Funds, Including , Hightower Advisors sold out all of its stake in RLI during the most recent quarter. The investment firm sold 15,178 shares of RLI which is valued $1,044,854.Los Angeles Capital Management Equity Research Inc reduced its stake in RLI by selling 500 shares or 2.58% in the most recent quarter. The Hedge Fund company now holds 18,851 shares of RLI which is valued at $1,302,227. RLI Corp. makes up approx 0.01% of Los Angeles Capital Management Equity Research Inc’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. Mad River Investors sold out all of its stake in RLI during the most recent quarter. The investment firm sold 7,810 shares of RLI which is valued $532,408.
RLI Corp. opened for trading at $69.84 and hit $69.87 on the upside on Tuesday, eventually ending the session at $69.45, with a gain of 0.07% or 0.05 points. The heightened volatility saw the trading volume jump to 71,260 shares. Company has a market cap of $3,042 M.
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 Companys insurance operations are casualty property and surety.