19,016 Shares in RLI Corp. $RLI Acquired by Magnetar Financial LLC

Magnetar Financial LLC bought a new stake in RLI Corp. (NYSE:RLI) in the third quarter, Holdings Channel.com reports. The firm bought 19,016 shares of the insurance provider’s stock, valued at approximately $1,240,000.

Other institutional investors have also bought and sold shares of the company. Clarity Asset Management Inc. acquired a new position in RLI during the second quarter worth $28,000. Quent Capital LLC acquired a new stake in shares of RLI during the third quarter valued at about $26,000. AlphaQuest LLC purchased a new stake in RLI in the third quarter valued at approximately $43,000. Winnow Wealth LLC acquired a new position in RLI in the 3rd quarter valued at about $49,000. Finally, Covestor Ltd grew its holdings in shares of RLI by 130.7% in the third quarter. Covestor Ltd now owns 1,407 shares of the insurance provider’s stock valued at $92,000 after purchasing an additional 797 shares in the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other RLI news, COO Jennifer L. Klobnak purchased 2,000 shares of the stock in a transaction dated Friday, January 23rd. The shares were acquired at an average cost of $57.99 per share, for a total transaction of $115,980.00. Following the completion of the transaction, the chief operating officer directly owned 100,318 shares of the company’s stock, valued at $5,817,440.82. This trade represents a 2.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Craig W. Kliethermes acquired 5,000 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were acquired 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 in the company, valued at approximately $8,272,225.50. This represents a 3.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RLI shares. Citizens Jmp reaffirmed a “market perform” rating on shares of RLI in a report on Friday, January 23rd. Zacks Research downgraded shares of RLI from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Truist Financial set a $58.00 price target on RLI in a research note on Friday, January 23rd. Keefe, Bruyette & Woods upgraded shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company set a $59.00 price objective on shares of RLI and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, RLI presently has an average rating of “Hold” and an average price target of $65.20.

RLI Price Performance

RLI opened at $62.03 on Friday. RLI Corp. has a 1-year low of $55.80 and a 1-year high of $81.79. The stock has a market cap of $5.70 billion, a P/E ratio of 14.23 and a beta of 0.50. The stock’s 50 day simple moving average is $60.48 and its 200 day simple moving average is $62.70.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.76 by $0.18. The business had revenue of $465.69 million for the quarter, compared to analyst estimates of $447.53 million. RLI had a net margin of 21.43% and a return on equity of 18.67%. During the same period in the previous year, the firm earned $0.41 EPS. Research analysts expect that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, March 2nd. RLI’s dividend payout ratio is 14.68%.

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.