Royal Bank of Canada Boosts Holdings in RLI Corp.
Royal Bank of Canada has increased its holdings in RLI Corp., purchasing an additional 22,345 shares during the first quarter. This brings their total ownership to 87,054 shares, a 34.5% increase from the previous quarter.
The institutional investor now owns approximately 0.09% of RLI's stock, valued at $4,966,000 as of the end of the most recent reporting period.
RLI Corp., a specialty property and casualty insurance company, reported earnings of $575.57 million for the second quarter, beating analysts' expectations of $568.70 million. The company's revenue increased by 15.2% year-over-year, with research analysts forecasting 2.88 EPS for the current year.
Several hedge funds have also modified their holdings in RLI Corp., including Covestor Ltd, Farther Finance Advisors LLC, and Public Employees Retirement System of Ohio.