GSA Capital Partners LLP Has $846,000 Position in RLI Corp. $RLI

GSA Capital Partners LLP trimmed its position in shares of RLI Corp. (NYSE:RLI) by 41.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,976 shares of the insurance provider’s stock after selling 9,253 shares during the quarter. GSA Capital Partners LLP’s holdings in RLI were worth $846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RLI. Principal Financial Group Inc. boosted its position in shares of RLI by 8.0% during the 3rd quarter. Principal Financial Group Inc. now owns 274,777 shares of the insurance provider’s stock worth $17,921,000 after purchasing an additional 20,438 shares in the last quarter. AGF Management Ltd. boosted its holdings in RLI by 12.4% in the second quarter. AGF Management Ltd. now owns 39,948 shares of the insurance provider’s stock worth $2,885,000 after acquiring an additional 4,419 shares in the last quarter. Hsbc Holdings PLC grew its stake in RLI by 222.1% in the second quarter. Hsbc Holdings PLC now owns 36,461 shares of the insurance provider’s stock valued at $2,613,000 after acquiring an additional 25,140 shares during the period. Van Berkom & Associates Inc. lifted its holdings in shares of RLI by 14.6% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,229,649 shares of the insurance provider’s stock worth $80,198,000 after purchasing an additional 156,241 shares in the last quarter. Finally, Empower Advisory Group LLC grew its position in RLI by 2.5% in the 2nd quarter. Empower Advisory Group LLC now owns 259,416 shares of the insurance provider’s stock valued at $18,735,000 after purchasing an additional 6,342 shares during the period. 77.89% of the stock is currently owned by institutional investors.

Insider Activity

In other RLI news, CEO Craig W. Kliethermes acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average price of $57.45 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jennifer L. Klobnak bought 2,000 shares of RLI stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average price of $57.99 per share, with a total value of $115,980.00. Following the completion of the transaction, the chief operating officer 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. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RLI shares. Wells Fargo & Company set a $59.00 target price on shares of RLI and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Jefferies Financial Group raised shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective on the stock in a report on Friday, January 23rd. Keefe, Bruyette & Woods dropped their price target on shares of RLI from $85.00 to $81.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 6th. Citizens Jmp restated a “market perform” rating on shares of RLI in a report on Friday, January 23rd. Finally, Truist Financial set a $58.00 price objective on shares of RLI in a research report on Friday, January 23rd. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $65.20.

RLI Stock Performance

Shares of RLI stock opened at $60.91 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.32. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 13.97 and a beta of 0.53. RLI Corp. has a 52 week low of $55.80 and a 52 week high of $81.79. The firm’s 50-day simple moving average is $61.48 and its two-hundred day simple moving average is $63.25.

RLI (NYSE:RLI) last released 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. RLI had a net margin of 21.43% and a return on equity of 18.67%. The firm had revenue of $465.69 million during the quarter, compared to the consensus estimate of $447.53 million. During the same period in the prior year, the firm earned $0.41 EPS. As a group, equities analysts forecast that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, March 2nd. RLI’s payout ratio is presently 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.