RLI Corp. $RLI Shares Sold by Strs Ohio

Strs Ohio reduced its holdings in RLI Corp. (NYSE:RLI) by 92.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,956 shares of the insurance provider’s stock after selling 24,168 shares during the period. Strs Ohio’s holdings in RLI were worth $128,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Quent Capital LLC purchased a new position in RLI in the 3rd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd grew its position in shares of RLI by 7,300.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 365 shares in the last quarter. Clarity Asset Management Inc. acquired a new stake in shares of RLI in the second quarter valued at approximately $28,000. Chung Wu Investment Group LLC purchased a new position in RLI during the second quarter worth approximately $29,000. Finally, Hantz Financial Services Inc. boosted 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 buying an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Price Performance

Shares of RLI opened at $59.65 on Wednesday. The firm has a 50-day simple moving average of $61.84 and a two-hundred day simple moving average of $63.74. The stock has a market cap of $5.48 billion, a PE ratio of 13.68 and a beta of 0.53. RLI Corp. has a 1-year low of $55.80 and a 1-year high of $81.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.32 and a quick ratio of 0.35.

RLI (NYSE:RLI) last issued its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.76 by $0.18. RLI had a net margin of 21.43% and a return on equity of 18.67%. The firm had revenue of $465.69 million for the quarter, compared to analyst estimates of $447.53 million. During the same period in the prior year, the business posted $0.41 EPS. As a group, analysts forecast that RLI Corp. will post 3.08 EPS for the current year.

RLI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 28th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, November 28th. RLI’s dividend payout ratio (DPR) is currently 14.68%.

Wall Street Analysts Forecast Growth

RLI has been the subject of several analyst reports. 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. Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a report on Wednesday, October 8th. Citizens Jmp reaffirmed a “market perform” rating on shares of RLI in a research note on Friday, January 23rd. Keefe, Bruyette & Woods decreased their target price on shares of RLI from $85.00 to $81.00 and set an “outperform” rating on the stock in a report on Tuesday, January 6th. Finally, Truist Financial set a $58.00 price target on shares of RLI in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $65.20.

Insiders Place Their Bets

In other news, CEO Craig W. Kliethermes bought 5,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average cost of $57.45 per share, for a total transaction of $287,250.00. Following the acquisition, the chief executive officer directly owned 143,990 shares of the company’s stock, valued at $8,272,225.50. The trade was a 3.60% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jennifer L. Klobnak purchased 2,000 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were acquired at an average price of $57.99 per share, for a total transaction of $115,980.00. Following the completion of the purchase, the chief operating officer directly owned 100,318 shares of the company’s stock, valued at approximately $5,817,440.82. This trade represents a 2.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.16% 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.