RLI Corp. $RLI Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP raised its holdings in RLI Corp. (NYSE:RLI) by 70.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,796 shares of the insurance provider’s stock after acquiring an additional 31,034 shares during the quarter. Quantbot Technologies LP’s holdings in RLI were worth $4,878,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in RLI. Quent Capital LLC purchased a new position in shares of RLI in the 3rd quarter valued at about $26,000. Clarity Asset Management Inc. acquired a new position in RLI during the second quarter worth about $28,000. Hantz Financial Services Inc. increased its holdings in RLI by 3,645.5% in the second quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock valued at $30,000 after buying an additional 401 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of RLI during the 3rd quarter valued at approximately $43,000. Finally, Winnow Wealth LLC purchased a new stake in shares of RLI during the 3rd quarter worth approximately $49,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Jefferies Financial Group raised shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Friday, January 23rd. Wells Fargo & Company set a $59.00 target price on RLI and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Truist Financial set a $58.00 price target on RLI in a research report on Friday, January 23rd. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of RLI in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $65.20.

Insider Buying and Selling at RLI

In related news, COO Jennifer L. Klobnak purchased 2,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was purchased at an average cost of $57.99 per share, for a total transaction of $115,980.00. Following the acquisition, the chief operating officer owned 100,318 shares in the company, valued at approximately $5,817,440.82. This trade represents a 2.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig W. Kliethermes acquired 5,000 shares of the business’s stock in a transaction on Friday, January 23rd. The stock was bought at an average cost of $57.45 per share, for a total transaction of $287,250.00. Following the completion of the transaction, the chief executive officer directly owned 143,990 shares of the company’s stock, valued at $8,272,225.50. This trade represents a 3.60% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.16% of the stock is currently owned by corporate insiders.

RLI Price Performance

NYSE RLI opened at $62.41 on Monday. The business’s 50-day simple moving average is $61.05 and its 200-day simple moving average is $63.00. The firm has a market capitalization of $5.74 billion, a P/E ratio of 14.31 and a beta of 0.50. RLI Corp. has a 1-year low of $55.80 and a 1-year high of $81.79.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.18. RLI had a net margin of 21.43% and a return on equity of 18.67%. The firm had revenue of $465.69 million for the quarter, compared to analysts’ expectations of $447.53 million. During the same period in the previous year, the company posted $0.41 earnings per share. On average, equities research analysts expect that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, March 2nd. RLI’s dividend payout ratio is 14.68%.

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.