Callan Family Office LLC Makes New Investment in RLI Corp. $RLI

Callan Family Office LLC acquired a new position in RLI Corp. (NYSE:RLI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 80,856 shares of the insurance provider’s stock, valued at approximately $4,776,000. Callan Family Office LLC owned approximately 0.09% of RLI at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in RLI by 115.1% during the first quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider’s stock worth $4,529,000 after purchasing an additional 30,170 shares during the period. Goldman Sachs Group Inc. lifted its stake in RLI by 110.8% in the first quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider’s stock valued at $14,902,000 after buying an additional 97,501 shares during the period. Empowered Funds LLC lifted its stake in RLI by 472.3% in the first quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider’s stock valued at $2,344,000 after buying an additional 24,079 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of RLI by 46.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the insurance provider’s stock worth $113,000 after buying an additional 493 shares in the last quarter. Finally, Amundi boosted its holdings in shares of RLI by 16,550.0% during the 2nd quarter. Amundi now owns 23,976 shares of the insurance provider’s stock worth $1,689,000 after buying an additional 23,832 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Jennifer L. Klobnak acquired 2,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were acquired at an average cost of $52.72 per share, for a total transaction of $105,440.00. Following the purchase, the chief operating officer owned 104,318 shares in the company, valued at approximately $5,499,644.96. The trade was a 1.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Clark C. Kellogg acquired 3,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the completion of the acquisition, the director directly owned 4,502 shares in the company, valued at approximately $229,151.80. The trade was a 199.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 9,500 shares of company stock valued at $492,115. 2.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

RLI Stock Performance

RLI stock opened at $65.47 on Friday. The business has a 50-day simple moving average of $60.52 and a two-hundred day simple moving average of $58.02. The company has a market capitalization of $6.01 billion, a P/E ratio of 13.75 and a beta of 0.38. RLI Corp. has a 52-week low of $47.26 and a 52-week high of $69.19.

RLI (NYSE:RLI) last posted its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. The company had revenue of $575.57 million for 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 company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. As a group, sell-side analysts forecast that RLI Corp. will post 2.88 earnings per share for the current fiscal year.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. RLI’s dividend payout ratio is presently 15.13%.

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.