RLI (NYSE:RLI) COO Buys $105,440.00 in Stock

RLI Corp. (NYSE:RLI) COO Jennifer Klobnak purchased 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average cost of $52.72 per share, for a total transaction of $105,440.00. Following the acquisition, the chief operating officer owned 104,318 shares of the company’s stock, valued at approximately $5,499,644.96. This trade represents a 1.95% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

RLI Trading Down 1.0%

Shares of RLI stock traded down $0.52 during trading on Thursday, hitting $51.53. The stock had a trading volume of 882,815 shares, compared to its average volume of 816,839. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 12.04 and a beta of 0.42. RLI Corp. has a 12 month low of $47.26 and a 12 month high of $77.24. The business’s 50-day moving average is $54.92 and its 200 day moving average is $59.46.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.10. The firm had revenue of $423.87 million for the quarter, compared to analysts’ expectations of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. As a group, equities analysts expect that RLI Corp. will post 2.7 EPS for the current year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, May 29th. This is an increase from RLI’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. RLI’s payout ratio is currently 16.82%.

Institutional Trading of RLI

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its stake 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 acquiring an additional 201 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in RLI by 72.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock worth $40,000 after buying an additional 259 shares during the period. AlphaQuest LLC purchased a new stake in RLI in the third quarter worth about $43,000. Finally, Eagle Bay Advisors LLC bought a new position in shares of RLI during the fourth quarter valued at approximately $43,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RLI. Wells Fargo & Company cut their target price on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Wall Street Zen lowered shares of RLI from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Zacks Research upgraded shares of RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, RLI presently has an average rating of “Hold” and an average target price of $61.50.

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.