RLI (NYSE:RLI) COO Jennifer Klobnak Buys 2,000 Shares of Stock

RLI Corp. (NYSE:RLI) COO Jennifer Klobnak purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average price of $53.42 per share, for a total transaction of $106,840.00. Following the transaction, the chief operating officer directly owned 102,318 shares in the company, valued at approximately $5,465,827.56. This trade represents a 1.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

RLI Stock Performance

Shares of NYSE RLI opened at $52.12 on Wednesday. The company has a market capitalization of $4.79 billion, a P/E ratio of 12.18 and a beta of 0.42. RLI Corp. has a 52-week low of $47.26 and a 52-week high of $77.24. The company’s 50 day moving average price is $55.96 and its 200-day moving average price is $59.76.

RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. The firm had revenue of $423.87 million for the quarter, compared to the consensus estimate of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 EPS. Analysts forecast that RLI Corp. will post 2.7 earnings per share for the current year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.4%. This is an increase from RLI’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, May 29th. RLI’s payout ratio is presently 14.95%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 target price for the company in a research note on Friday, January 23rd. Citizens Jmp restated a “market perform” rating on shares of RLI in a research note on Friday, January 23rd. Zacks Research upgraded RLI from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Wall Street Zen downgraded RLI from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Wells Fargo & Company reduced their target price on RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, RLI has a consensus rating of “Hold” and an average target price of $61.50.

Institutional Trading of RLI

A number of hedge funds and other institutional investors have recently bought and sold shares of RLI. Royal Bank of Canada increased its stake in RLI by 115.1% during the 1st quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider’s stock valued at $4,529,000 after purchasing an additional 30,170 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in RLI by 110.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider’s stock valued at $14,902,000 after purchasing an additional 97,501 shares in the last quarter. Empowered Funds LLC increased its stake in RLI by 472.3% during the 1st quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider’s stock valued at $2,344,000 after purchasing an additional 24,079 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in RLI by 46.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 493 shares in the last quarter. Finally, Amundi increased its stake in RLI by 16,550.0% during the 2nd quarter. Amundi now owns 23,976 shares of the insurance provider’s stock valued at $1,689,000 after purchasing an additional 23,832 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

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.