RLI Corp. $RLI Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in RLI Corp. (NYSE:RLI) by 22.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 634,602 shares of the insurance provider’s stock after acquiring an additional 117,876 shares during the period. Wellington Management Group LLP owned about 0.69% of RLI worth $37,486,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in shares of RLI by 94.4% during the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 201 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in RLI by 156.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 283 shares during the period. IFP Advisors Inc grew its stake in RLI by 85.9% during the 4th quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock worth $44,000 after buying an additional 316 shares during the last quarter. Advisory Services Network LLC acquired a new stake in RLI in the third quarter worth $47,000. Finally, Versant Capital Management Inc increased its position in RLI by 28.5% in the second quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock worth $49,000 after buying an additional 185 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of RLI from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 28th. Jefferies Financial Group lowered shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 target price for the company. in a research note on Tuesday, August 25th. Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 target price (up from $70.00) on shares of RLI in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company cut RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 price target on the stock. in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, RLI presently has a consensus rating of “Reduce” and a consensus target price of $63.20.

RLI Stock Performance

Shares of RLI opened at $62.43 on Friday. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 13.12 and a beta of 0.38. RLI Corp. has a one year low of $47.26 and a one year high of $68.29. The stock’s fifty day moving average is $62.54 and its 200-day moving average is $58.23.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.11. The business had revenue of $575.57 million during the quarter, compared to the consensus estimate of $568.70 million. RLI had a net margin of 22.22% and a return on equity of 17.61%. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. Analysts forecast that RLI Corp. will post 2.88 EPS for the current fiscal year.

RLI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 31st. RLI’s dividend payout ratio is currently 15.13%.

About RLI

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.