Polar Capital Holdings Plc Buys 152,500 Shares of RLI Corp. $RLI

Polar Capital Holdings Plc boosted its stake in RLI Corp. (NYSE:RLI) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 687,500 shares of the insurance provider’s stock after purchasing an additional 152,500 shares during the quarter. Polar Capital Holdings Plc owned about 0.75% of RLI worth $43,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RLI. JPMorgan Chase & Co. increased its position in RLI by 15.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,422,596 shares of the insurance provider’s stock valued at $92,782,000 after buying an additional 191,020 shares in the last quarter. UBS Group AG boosted its holdings in RLI by 8.7% in the fourth quarter. UBS Group AG now owns 607,176 shares of the insurance provider’s stock worth $38,847,000 after acquiring an additional 48,563 shares in the last quarter. SG Americas Securities LLC grew its stake in RLI by 1,030.2% in the fourth quarter. SG Americas Securities LLC now owns 34,009 shares of the insurance provider’s stock valued at $2,176,000 after acquiring an additional 31,000 shares during the period. Vanguard Group Inc. grew its stake in RLI by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock valued at $604,542,000 after acquiring an additional 310,857 shares during the period. Finally, Magnetar Financial LLC bought a new stake in shares of RLI during the third quarter valued at approximately $1,240,000. 77.89% of the stock is owned by institutional investors.

RLI Stock Up 0.9%

RLI stock opened at $54.07 on Wednesday. The firm has a market capitalization of $4.97 billion, a PE ratio of 12.63 and a beta of 0.41. RLI Corp. has a twelve month low of $47.26 and a twelve month high of $74.00. The stock’s 50 day moving average is $53.33 and its 200-day moving average is $58.37.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.10. The business had revenue of $423.87 million during the quarter, compared to the consensus estimate of $564.47 million. RLI had a return on equity of 17.72% and a net margin of 20.81%.RLI’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. On average, equities research analysts anticipate that RLI Corp. will post 2.75 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, May 29th. This is a positive change from RLI’s previous quarterly dividend of $0.16. RLI’s dividend payout ratio (DPR) is currently 16.82%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered 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 note on Friday, May 22nd. Keefe, Bruyette & Woods upgraded shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Zacks Research raised shares of RLI from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. One 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, the stock presently has an average rating of “Hold” and a consensus price target of $61.50.

Insider Activity

In other news, Director David B. Duclos acquired 2,500 shares of RLI stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of $51.99 per share, with a total value of $129,975.00. Following the transaction, the director owned 9,780 shares of the company’s stock, valued at approximately $508,462.20. This trade represents a 34.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer L. Klobnak acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was purchased at an average price of $52.72 per share, with a total value 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 position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 16,500 shares of company stock worth $858,955. Company insiders own 2.39% of the company’s stock.

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.