Teacher Retirement System of Texas Increases Stock Holdings in RLI Corp. $RLI

Teacher Retirement System of Texas grew its stake in shares of RLI Corp. (NYSE:RLI) by 193.0% during the third quarter, Holdings Channel reports. The firm owned 93,479 shares of the insurance provider’s stock after purchasing an additional 61,573 shares during the period. Teacher Retirement System of Texas’ holdings in RLI were worth $6,097,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of RLI during the second quarter worth about $221,000. Equitable Trust Co. lifted its holdings in shares of RLI by 60.0% in the 2nd quarter. Equitable Trust Co. now owns 13,013 shares of the insurance provider’s stock valued at $940,000 after purchasing an additional 4,880 shares during the last quarter. AGF Management Ltd. boosted its position in shares of RLI by 12.4% in the 2nd quarter. AGF Management Ltd. now owns 39,948 shares of the insurance provider’s stock valued at $2,885,000 after purchasing an additional 4,419 shares during the period. Mutual of America Capital Management LLC grew its stake in RLI by 228.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 140,971 shares of the insurance provider’s stock worth $10,181,000 after buying an additional 98,049 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in RLI by 222.1% during the second quarter. Hsbc Holdings PLC now owns 36,461 shares of the insurance provider’s stock worth $2,613,000 after buying an additional 25,140 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

Insider Transactions at RLI

In other RLI news, COO Jennifer L. Klobnak purchased 2,000 shares of RLI stock in a transaction dated 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 directly owned 100,318 shares of the company’s stock, valued at $5,817,440.82. This represents a 2.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig W. Kliethermes purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was acquired at an average price of $57.45 per share, for a total transaction of $287,250.00. Following the completion of 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 ownership of the stock. The SEC filing for this purchase provides additional information. 2.16% of the stock is owned by company insiders.

RLI Stock Performance

NYSE:RLI opened at $58.43 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.32 and a quick ratio of 0.35. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 13.40 and a beta of 0.54. The firm’s fifty day moving average price is $62.52 and its 200 day moving average price is $64.25. RLI Corp. has a 1-year low of $55.80 and a 1-year high of $81.79.

RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.18. RLI had a net margin of 21.43% and a return on equity of 18.67%. The company had revenue of $465.69 million during the quarter, compared to the consensus estimate of $447.53 million. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, sell-side analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a report on Wednesday, October 8th. Jefferies Financial Group upgraded shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target for the company in a research report on Friday. Citizens Jmp reissued a “market perform” rating on shares of RLI in a research report on Friday. Keefe, Bruyette & Woods dropped their price objective on shares of RLI from $85.00 to $81.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 6th. 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. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.20.

About RLI

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.