Royce & Associates LP Boosts Holdings in RLI Corp. $RLI

Royce & Associates LP raised its position in RLI Corp. (NYSE:RLI) by 25.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 495,329 shares of the insurance provider’s stock after purchasing an additional 100,843 shares during the period. Royce & Associates LP owned 0.54% of RLI worth $32,305,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in RLI by 8.0% during the 3rd quarter. Principal Financial Group Inc. now owns 274,777 shares of the insurance provider’s stock valued at $17,921,000 after buying an additional 20,438 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of RLI by 15.5% during the third quarter. JPMorgan Chase & Co. now owns 1,422,596 shares of the insurance provider’s stock worth $92,782,000 after purchasing an additional 191,020 shares during the period. AGF Management Ltd. boosted its holdings in shares of RLI by 12.4% during the second quarter. AGF Management Ltd. now owns 39,948 shares of the insurance provider’s stock worth $2,885,000 after purchasing an additional 4,419 shares during the period. Van Berkom & Associates Inc. grew its stake in shares of RLI by 14.6% in the third 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 during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in RLI by 222.1% during the 2nd quarter. Hsbc Holdings PLC now owns 36,461 shares of the insurance provider’s stock valued at $2,613,000 after purchasing an additional 25,140 shares during the period. Institutional investors own 77.89% of the company’s stock.

Insider Buying and Selling at RLI

In related news, CEO Craig W. Kliethermes bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were bought at an average cost of $57.45 per share, with a total value of $287,250.00. Following the acquisition, the chief executive officer owned 143,990 shares in the company, valued at $8,272,225.50. This trade represents a 3.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 bought 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 trade represents a 2.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Zacks Research cut shares of RLI from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Citizens Jmp reaffirmed a “market perform” rating on shares of RLI in a research note on Friday, January 23rd. Wells Fargo & Company set a $59.00 price target on shares of RLI and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Truist Financial set a $58.00 price objective on shares of RLI in a report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods raised RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $65.20.

RLI Stock Up 1.5%

RLI stock opened at $62.41 on Monday. RLI Corp. has a twelve month low of $55.80 and a twelve month high of $81.79. The company has a market capitalization of $5.74 billion, a P/E ratio of 14.31 and a beta of 0.50. The stock’s 50 day moving average is $61.05 and its 200 day moving average is $63.00.

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

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, March 2nd. RLI’s dividend payout ratio is 14.68%.

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.