Tudor Investment Corp ET AL Buys 9,932 Shares of RLI Corp. $RLI

Tudor Investment Corp ET AL raised its stake in RLI Corp. (NYSE:RLI) by 39.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 34,879 shares of the insurance provider’s stock after buying an additional 9,932 shares during the period. Tudor Investment Corp ET AL’s holdings in RLI were worth $2,275,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quent Capital LLC purchased a new position in shares of RLI during the third quarter worth approximately $26,000. Clarity Asset Management Inc. purchased a new stake in shares of RLI in the second quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. grew its stake in RLI by 156.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 283 shares in the last quarter. AlphaQuest LLC bought a new position in RLI in the third quarter worth approximately $43,000. Finally, Advisory Services Network LLC purchased a new position in RLI during the 3rd quarter worth $47,000. 77.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RLI

In other RLI news, CEO Craig W. Kliethermes bought 5,000 shares of RLI stock in a transaction that occurred on Friday, January 23rd. The shares were bought at an average cost of $57.45 per share, with a total value of $287,250.00. Following the transaction, the chief executive officer directly owned 143,990 shares of the company’s stock, valued at approximately $8,272,225.50. This represents a 3.60% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer L. Klobnak purchased 2,000 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was acquired at an average price of $57.99 per share, with a total value of $115,980.00. Following the completion of the purchase, the chief operating officer owned 100,318 shares of the company’s stock, valued at $5,817,440.82. The trade was a 2.03% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.16% of the company’s stock.

RLI Stock Down 1.6%

Shares of RLI stock opened at $56.37 on Friday. The company has a market cap of $5.18 billion, a P/E ratio of 12.93 and a beta of 0.50. The firm’s 50 day moving average price is $60.13 and its 200-day moving average price is $61.98. RLI Corp. has a 52-week low of $55.80 and a 52-week high of $81.79.

RLI (NYSE:RLI) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.18. The company had revenue of $465.69 million during the quarter, compared to analysts’ expectations of $447.53 million. RLI had a net margin of 21.43% and a return on equity of 18.67%. During the same quarter in the prior year, the company posted $0.41 earnings per share. As a group, equities research analysts forecast that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, March 2nd. RLI’s dividend payout ratio is currently 14.68%.

Wall Street Analyst Weigh In

RLI has been the subject of a number of research analyst reports. Truist Financial set a $58.00 target price on RLI in a research report on Friday, January 23rd. Keefe, Bruyette & Woods upgraded RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Zacks Research downgraded RLI from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Jefferies Financial Group raised shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Friday, January 23rd. Finally, Citizens Jmp reiterated a “market perform” rating on shares of RLI in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, RLI currently has a consensus rating of “Hold” and an average target price of $65.20.

RLI 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.