Maren Capital LLC Has $107.35 Million Stock Position in RLI Corp. $RLI

Maren Capital LLC lifted its position in RLI Corp. (NYSE:RLI) by 1.6% during the second quarter, HoldingsChannel.com reports. The fund owned 1,817,370 shares of the insurance provider’s stock after purchasing an additional 28,366 shares during the period. RLI makes up approximately 5.0% of Maren Capital LLC’s investment portfolio, making the stock its 8th biggest holding. Maren Capital LLC’s holdings in RLI were worth $107,352,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of RLI. State Street Corp grew its holdings in RLI by 1.4% during the fourth quarter. State Street Corp now owns 8,875,002 shares of the insurance provider’s stock valued at $567,823,000 after purchasing an additional 124,687 shares during the period. BlackRock Inc. acquired a new stake in RLI in the second quarter worth $492,175,000. Wasatch Advisors LP raised its holdings in RLI by 40.7% in the second quarter. Wasatch Advisors LP now owns 3,631,273 shares of the insurance provider’s stock worth $214,499,000 after purchasing an additional 1,051,318 shares during the period. Geode Capital Management LLC boosted its position in shares of RLI by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 2,191,891 shares of the insurance provider’s stock worth $140,260,000 after purchasing an additional 67,025 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of RLI by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,920,823 shares of the insurance provider’s stock worth $109,567,000 after purchasing an additional 21,299 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

RLI Stock Down 2.5%

RLI stock opened at $62.43 on Friday. The stock has a market capitalization of $5.73 billion, a PE ratio of 13.12 and a beta of 0.38. RLI Corp. has a twelve month low of $47.26 and a twelve month high of $68.29. The company has a 50 day moving average of $62.54 and a 200-day moving average of $58.23.

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

RLI Dividend Announcement

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