Royal Bank of Canada Has $4.97 Million Stock Position in RLI Corp. $RLI

Royal Bank of Canada lifted its stake in RLI Corp. (NYSE:RLI) by 34.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,054 shares of the insurance provider’s stock after purchasing an additional 22,345 shares during the period. Royal Bank of Canada’s holdings in RLI were worth $4,966,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. UBS Group AG raised its holdings in RLI by 8.7% during the fourth quarter. UBS Group AG now owns 607,176 shares of the insurance provider’s stock valued at $38,847,000 after acquiring an additional 48,563 shares during the period. Hingham Institution for Savings bought a new position in shares of RLI in the fourth quarter worth about $1,919,000. Chase Investment Counsel Corp purchased a new stake in shares of RLI during the fourth quarter worth about $1,535,000. Wasatch Advisors LP grew its position in shares of RLI by 33.1% during the first quarter. Wasatch Advisors LP now owns 2,579,955 shares of the insurance provider’s stock worth $147,161,000 after purchasing an additional 641,769 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of RLI by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock worth $604,542,000 after purchasing an additional 310,857 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Trading Down 1.8%

Shares of RLI stock opened at $62.76 on Thursday. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $69.19. The stock’s 50-day moving average price is $58.92 and its 200-day moving average price is $57.70. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 13.18 and a beta of 0.38.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. The company had revenue of $575.57 million during the quarter, compared to analyst estimates of $568.70 million. RLI had a return on equity of 17.61% and a net margin of 22.22%.The firm’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 earnings per share. As a group, research analysts predict that RLI Corp. will post 2.88 EPS for the current fiscal year.

Insider Transactions at RLI

In other RLI news, COO Jennifer L. Klobnak acquired 2,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $53.42 per share, for a total transaction of $106,840.00. Following the completion of the transaction, the chief operating officer directly owned 102,318 shares of the company’s stock, valued at $5,465,827.56. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clark C. Kellogg acquired 3,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was acquired at an average cost of $50.90 per share, with a total value of $152,700.00. Following the completion of the purchase, the director directly owned 4,502 shares in the company, valued at approximately $229,151.80. This represents a 199.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 16,500 shares of company stock valued at $858,955 over the last quarter. 2.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RLI has been the topic of a number of research analyst reports. Weiss Ratings raised RLI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. Wells Fargo & Company lowered shares of RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 price objective for the company. in a report on Wednesday, July 29th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $74.00 price objective (up from $70.00) on shares of RLI in a research report on Tuesday, July 28th. UBS Group set a $74.00 target price on shares of RLI in a report on Tuesday, July 28th. Finally, Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.