Erste Asset Management GmbH Sells 31,658 Shares of RLI Corp. $RLI

Erste Asset Management GmbH lessened its position in shares of RLI Corp. (NYSE:RLI) by 32.3% in the third quarter, HoldingsChannel reports. The fund owned 66,446 shares of the insurance provider’s stock after selling 31,658 shares during the period. Erste Asset Management GmbH’s holdings in RLI were worth $4,291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in RLI. Steward Partners Investment Advisory LLC lifted its holdings in RLI by 4.6% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 4,866 shares of the insurance provider’s stock worth $351,000 after purchasing an additional 214 shares during the last quarter. SkyView Investment Advisors LLC increased its stake in shares of RLI by 2.9% in the 2nd quarter. SkyView Investment Advisors LLC now owns 8,281 shares of the insurance provider’s stock valued at $591,000 after purchasing an additional 237 shares during the last quarter. Franklin Resources Inc. raised its stake in RLI by 6.1% during the second quarter. Franklin Resources Inc. now owns 4,491 shares of the insurance provider’s stock worth $324,000 after acquiring an additional 257 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in RLI by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 38,211 shares of the insurance provider’s stock valued at $2,760,000 after purchasing an additional 305 shares during the last quarter. Finally, Quantum Private Wealth LLC lifted its stake in shares of RLI by 6.4% in the 2nd quarter. Quantum Private Wealth LLC now owns 5,102 shares of the insurance provider’s stock valued at $368,000 after acquiring an additional 308 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Insider Transactions at RLI

In related news, COO Jennifer L. Klobnak acquired 2,000 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was purchased at an average cost of $57.99 per share, with a total value of $115,980.00. Following the acquisition, the chief operating officer owned 100,318 shares of the company’s stock, valued at approximately $5,817,440.82. This trade represents a 2.03% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Craig W. Kliethermes acquired 5,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was bought at an average cost of $57.45 per share, with a total value of $287,250.00. Following the completion of the purchase, the chief executive officer owned 143,990 shares of the company’s stock, valued at approximately $8,272,225.50. The trade was 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 insiders.

RLI Stock Performance

Shares of NYSE:RLI opened at $62.41 on Friday. The firm has a market cap of $5.74 billion, a P/E ratio of 14.31 and a beta of 0.53. RLI Corp. has a 52-week low of $55.80 and a 52-week high of $81.79. The business’s 50 day simple moving average is $61.05 and its two-hundred day simple moving average is $63.03.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $447.53 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, equities analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

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 $0.16 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.64 annualized dividend and a yield of 1.0%. RLI’s dividend payout ratio (DPR) is presently 14.68%.

Analyst Ratings Changes

Several analysts have recently weighed in on RLI shares. Keefe, Bruyette & Woods raised RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Zacks Research cut shares of RLI from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Citizens Jmp reaffirmed a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. Truist Financial set a $58.00 price target on RLI in a research report on Friday, January 23rd. Finally, Jefferies Financial Group raised RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target for the company in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $65.20.

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.