RLI Corp. $RLI Shares Purchased by Maren Capital LLC

Maren Capital LLC increased its stake in shares of RLI Corp. (NYSE:RLI) by 2.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,595,038 shares of the insurance provider’s stock after buying an additional 42,985 shares during the quarter. RLI comprises 6.9% of Maren Capital LLC’s holdings, making the stock its 7th largest position. Maren Capital LLC owned 1.74% of RLI worth $115,194,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of RLI by 7,300.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 365 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in RLI by 100.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 198 shares during the last quarter. Chung Wu Investment Group LLC purchased a new position in RLI during the second quarter worth about $29,000. Hantz Financial Services Inc. raised its stake in RLI by 3,645.5% during the second quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 401 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in RLI in the 2nd quarter valued at about $37,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RLI has been the subject of several analyst reports. Truist Financial set a $62.00 price objective on RLI and gave the stock a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $72.80.

RLI Trading Up 0.6%

NYSE RLI opened at $62.02 on Wednesday. RLI Corp. has a one year low of $57.75 and a one year high of $87.13. The firm has a 50 day simple moving average of $62.42 and a 200-day simple moving average of $67.32. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 16.28 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35.

RLI (NYSE:RLI) last released its earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.21. The company had revenue of $509.26 million for the quarter, compared to analyst estimates of $444.75 million. RLI had a net margin of 19.02% and a return on equity of 16.51%. During the same period in the prior year, the business earned $1.31 EPS. Equities research analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, November 28th. This represents a $0.64 annualized dividend and a yield of 1.0%. RLI’s dividend payout ratio is 16.80%.

RLI Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.