Quantbot Technologies LP Raises Stake in RLI Corp. $RLI

Quantbot Technologies LP raised its position in RLI Corp. (NYSE:RLI) by 70.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,796 shares of the insurance provider’s stock after purchasing an additional 31,034 shares during the period. Quantbot Technologies LP owned 0.08% of RLI worth $4,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Clarity Asset Management Inc. purchased a new position in RLI in the second quarter valued at $28,000. Quent Capital LLC acquired a new position in shares of RLI during the 3rd quarter worth about $26,000. Hantz Financial Services Inc. increased its holdings in shares of RLI by 3,645.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 401 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of RLI during the 3rd quarter worth about $43,000. Finally, Winnow Wealth LLC purchased a new stake in RLI during the third quarter worth approximately $49,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Stock Up 1.5%

Shares of RLI stock opened at $62.41 on Monday. The stock’s 50-day moving average price is $61.05 and its 200 day moving average price is $63.00. The stock has a market capitalization of $5.74 billion, a PE ratio of 14.31 and a beta of 0.50. RLI Corp. has a 52-week low of $55.80 and a 52-week high of $81.79.

RLI (NYSE:RLI) last announced its earnings results on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.18. The company had revenue of $465.69 million for the quarter, compared to the consensus estimate of $447.53 million. RLI had a return on equity of 18.67% and a net margin of 21.43%.During the same period last year, the business posted $0.41 EPS. Analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, March 2nd. RLI’s payout ratio is currently 14.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RLI shares. Keefe, Bruyette & Woods upgraded shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Zacks Research lowered shares of RLI from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Jefferies Financial Group upgraded shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Friday, January 23rd. Truist Financial set a $58.00 price objective on RLI in a report on Friday, January 23rd. Finally, Citizens Jmp reissued a “market perform” rating on shares of RLI in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $65.20.

Insiders Place Their Bets

In other news, COO Jennifer L. Klobnak bought 2,000 shares of RLI stock in a transaction dated Friday, January 23rd. The stock was bought at an average price of $57.99 per share, for a total transaction of $115,980.00. Following the purchase, the chief operating officer owned 100,318 shares of the company’s stock, valued at approximately $5,817,440.82. The trade was a 2.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Craig W. Kliethermes bought 5,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was purchased at an average cost of $57.45 per share, for a total transaction of $287,250.00. Following the acquisition, the chief executive officer owned 143,990 shares of the company’s stock, valued at approximately $8,272,225.50. This represents a 3.60% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.16% of the stock is currently owned by corporate insiders.

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.