RLI Corp. $RLI Shares Bought by Markel Group Inc.

Markel Group Inc. raised its position in RLI Corp. (NYSE:RLI) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,421,922 shares of the insurance provider’s stock after purchasing an additional 27,378 shares during the quarter. RLI accounts for approximately 1.0% of Markel Group Inc.’s portfolio, making the stock its 27th largest position. Markel Group Inc. owned about 2.64% of RLI worth $133,957,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Associated Banc Corp acquired a new stake in shares of RLI in the third quarter valued at $256,000. SFE Investment Counsel acquired a new position in RLI during the 3rd quarter worth about $211,000. ProShare Advisors LLC lifted its stake in RLI by 2.0% during the 3rd quarter. ProShare Advisors LLC now owns 463,383 shares of the insurance provider’s stock worth $25,630,000 after acquiring an additional 8,924 shares in the last quarter. Schwartz Investment Counsel Inc. acquired a new position in RLI during the 3rd quarter worth about $9,593,000. Finally, Signaturefd LLC boosted its holdings in RLI by 9.8% during the 3rd quarter. Signaturefd LLC now owns 3,723 shares of the insurance provider’s stock valued at $206,000 after acquiring an additional 333 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Trading Down 0.6%

Shares of NYSE RLI opened at $66.82 on Wednesday. The stock has a market cap of $6.13 billion, a P/E ratio of 19.43 and a beta of 0.31. The business’s fifty day simple moving average is $60.72 and its 200-day simple moving average is $58.77. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $67.83.

RLI (NYSE:RLI) last released its earnings results on Monday, October 19th. The insurance provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.54 by $0.32. RLI had a return on equity of 18.19% and a net margin of 20.34%. The firm had revenue of $476.96 million during the quarter, compared to analysts’ expectations of $533.51 million. During the same period in the previous year, the firm posted $0.83 EPS. On average, equities analysts forecast that RLI Corp. will post 3.15 EPS for the current fiscal year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, August 31st. RLI’s dividend payout ratio (DPR) is presently 16.78%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RLI. Weiss Ratings raised RLI from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 28th. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Wells Fargo & Company set a $53.00 price objective on shares of RLI and gave the company an “underweight” rating in a research note on Wednesday, October 21st. UBS Group set a $74.00 price objective on shares of RLI in a report on Tuesday, July 28th. Finally, Jefferies Financial Group cut shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 price objective for the company. in a report on Tuesday, August 25th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, RLI presently has a consensus rating of “Reduce” and an average target price of $62.40.

RLI Profile

RLI Corp. (NYSE: RLI) is a specialty insurance company that underwrites property and casualty insurance products for commercial and personal customers. The company focuses on specialized risks that may not be adequately served by standard insurance carriers.

RLI’s offerings include commercial property and casualty coverage, professional liability insurance, surety bonds, transportation-related insurance, and personal lines such as homeowners and personal umbrella coverage. Its products are distributed through independent agents, brokers, and other insurance intermediaries.

Founded in 1965 and headquartered in Peoria, Illinois, RLI serves customers primarily throughout the United States.