RLI Corp. $RLI Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC boosted its position in RLI Corp. (NYSE:RLI) by 21.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 515,819 shares of the insurance provider’s stock after purchasing an additional 92,381 shares during the period. ProShare Advisors LLC owned approximately 0.56% of RLI worth $33,642,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RLI. Allianz Asset Management GmbH lifted its stake in RLI by 2.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 7,104 shares of the insurance provider’s stock worth $513,000 after acquiring an additional 163 shares in the last quarter. Vista Finance LLC raised its position in shares of RLI by 4.0% in the second quarter. Vista Finance LLC now owns 4,655 shares of the insurance provider’s stock valued at $336,000 after purchasing an additional 181 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in RLI by 6.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,341 shares of the insurance provider’s stock worth $241,000 after acquiring an additional 195 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of RLI by 5.6% during the second quarter. Brookstone Capital Management now owns 3,876 shares of the insurance provider’s stock worth $280,000 after buying an additional 207 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of RLI by 4.6% in the second quarter. Steward Partners Investment Advisory LLC now owns 4,866 shares of the insurance provider’s stock valued at $351,000 after buying an additional 214 shares during the period. 77.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on RLI shares. Truist Financial set a $58.00 price objective on shares of RLI in a research note on Friday, January 23rd. Zacks Research lowered shares of RLI from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 target price for the company in a report on Friday, January 23rd. Citizens Jmp reaffirmed a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. Finally, Wells Fargo & Company set a $59.00 target price on shares of RLI and gave the company an “equal weight” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.20.

Insider Activity

In related news, COO Jennifer L. Klobnak purchased 2,000 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were purchased at an average cost of $57.99 per share, with a total value of $115,980.00. Following the transaction, the chief operating officer directly owned 100,318 shares in the company, valued at $5,817,440.82. This trade represents a 2.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Craig W. Kliethermes bought 5,000 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was purchased at an average price of $57.45 per share, for a total transaction of $287,250.00. Following the purchase, 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 position. The SEC filing for this purchase provides additional information. Company insiders own 2.16% of the company’s stock.

RLI Price Performance

Shares of RLI opened at $62.09 on Wednesday. The firm has a market cap of $5.70 billion, a PE ratio of 14.24 and a beta of 0.53. The business’s 50 day moving average price is $61.71 and its two-hundred day moving average price is $63.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.32. RLI Corp. has a 52-week low of $55.80 and a 52-week high of $81.79.

RLI (NYSE:RLI) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 18.67% and a net margin of 21.43%.During the same quarter last year, the company earned $0.41 earnings per share. On average, equities analysts anticipate that RLI Corp. will post 3.08 EPS for the current year.

RLI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 28th were issued a $0.16 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.64 annualized dividend and a yield of 1.0%. RLI’s dividend payout ratio (DPR) is 14.68%.

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.