RLI (NYSE:RLI) CEO Buys $260,000.00 in Stock

RLI Corp. (NYSE:RLI) CEO Craig Kliethermes bought 5,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was acquired at an average cost of $52.00 per share, with a total value of $260,000.00. Following the transaction, the chief executive officer owned 148,990 shares in the company, valued at $7,747,480. The trade was a 3.47% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

RLI Stock Performance

Shares of NYSE:RLI opened at $51.53 on Friday. RLI Corp. has a fifty-two week low of $47.26 and a fifty-two week high of $77.24. The business has a 50-day simple moving average of $54.72 and a two-hundred day simple moving average of $59.38. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 12.04 and a beta of 0.42.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. RLI had a return on equity of 17.72% and a net margin of 20.81%.The business had revenue of $423.87 million during the quarter, compared to analyst estimates of $564.47 million. During the same quarter in the previous year, the firm earned $0.92 EPS. RLI’s revenue was up 4.0% on a year-over-year basis. As a group, research analysts predict that RLI Corp. will post 2.75 earnings per share for the current year.

RLI Increases Dividend

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

Wall Street Analyst Weigh In

RLI has been the subject of several research reports. Weiss Ratings lowered shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Wall Street Zen lowered shares of RLI from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Wells Fargo & Company reduced their price target on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Finally, Zacks Research raised shares of RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.50.

Institutional Investors Weigh In On RLI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RLI. Farther Finance Advisors LLC increased its holdings in RLI by 94.4% in the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 201 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in RLI by 156.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 283 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in RLI by 72.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 259 shares in the last quarter. AlphaQuest LLC purchased a new stake in RLI in the 3rd quarter worth approximately $43,000. Finally, Eagle Bay Advisors LLC purchased a new stake in RLI in the 4th quarter worth approximately $43,000. 77.89% of the stock is owned by hedge funds and other institutional investors.

RLI Company Profile

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.