RLI (NYSE:RLI) Director Acquires $152,700.00 in Stock

RLI Corp. (NYSE:RLI) Director Clark Kellogg purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $50.90 per share, with a total value of $152,700.00. Following the completion of the acquisition, the director directly owned 4,502 shares of the company’s stock, valued at $229,151.80. The trade was a 199.73% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

RLI Stock Down 1.6%

RLI stock opened at $50.14 on Thursday. The stock has a 50-day simple moving average of $54.11 and a 200 day simple moving average of $59.05. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $76.68. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 11.72 and a beta of 0.41.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $564.47 million. During the same period in the previous year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that RLI Corp. will post 2.75 EPS for the current year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a $0.18 dividend. This is a positive change from RLI’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. RLI’s dividend payout ratio (DPR) is presently 16.82%.

Hedge Funds Weigh In On RLI

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC grew its position in shares of RLI by 94.4% in the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 201 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of RLI by 156.4% in 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. MassMutual Private Wealth & Trust FSB grew its position in shares of RLI by 72.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 259 shares during the period. AlphaQuest LLC acquired a new position in shares of RLI in the 3rd quarter valued at approximately $43,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of RLI in the 4th quarter valued at approximately $43,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.