RLI Corp. (NYSE:RLI) Short Interest Update

RLI Corp. (NYSE:RLI) was the recipient of a significant growth in short interest in February. As of February 27th, there was short interest totaling 3,719,519 shares, a growth of 19.2% from the February 12th total of 3,119,737 shares. Based on an average daily trading volume, of 785,875 shares, the days-to-cover ratio is presently 4.7 days. Currently, 4.1% of the company’s stock are sold short. Currently, 4.1% of the company’s stock are sold short. Based on an average daily trading volume, of 785,875 shares, the days-to-cover ratio is presently 4.7 days.

Wall Street Analyst Weigh In

RLI has been the topic of a number of recent research reports. Citizens Jmp restated a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. Jefferies Financial Group upgraded shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective on the stock in a research note on Friday, January 23rd. Zacks Research downgraded RLI from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Wells Fargo & Company set a $59.00 target price on RLI and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods upgraded RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, RLI currently has an average rating of “Hold” and an average price target of $65.20.

RLI Trading Down 4.3%

NYSE:RLI traded down $2.60 during mid-day trading on Wednesday, hitting $58.62. The stock had a trading volume of 261,029 shares, compared to its average volume of 807,621. The company has a 50 day simple moving average of $60.46 and a 200-day simple moving average of $62.49. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 13.45 and a beta of 0.50. RLI has a 52 week low of $55.80 and a 52 week high of $81.79.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $0.94 EPS 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 analyst estimates of $447.53 million. RLI had a net margin of 21.43% and a return on equity of 18.67%. During the same quarter last year, the business earned $0.41 earnings per share. As a group, equities research analysts anticipate that RLI will post 3.08 earnings per share for the current year.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, March 2nd. RLI’s payout ratio is 14.68%.

Insider Activity at RLI

In other news, CEO Craig W. Kliethermes purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average cost of $57.45 per share, with a total value of $287,250.00. Following the transaction, the chief executive officer owned 143,990 shares in the company, valued at approximately $8,272,225.50. The trade was a 3.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jennifer L. Klobnak acquired 2,000 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was acquired at an average cost of $57.99 per share, with a total value of $115,980.00. Following the acquisition, the chief operating officer owned 100,318 shares of the company’s stock, valued at $5,817,440.82. This trade represents a 2.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Clarity Asset Management Inc. bought a new position in RLI in the 2nd quarter valued at about $28,000. Quent Capital LLC bought a new stake in shares of RLI during the 3rd quarter worth about $26,000. Farther Finance Advisors LLC lifted its stake in shares of RLI by 94.4% in the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 201 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of RLI by 156.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 283 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of RLI by 72.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 259 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Company 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.