RLI Corp. (NYSE:RLI) Short Interest Down 13.3% in February

RLI Corp. (NYSE:RLI) saw a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 3,119,737 shares, a decrease of 13.3% from the January 29th total of 3,599,984 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average daily volume of 720,652 shares, the short-interest ratio is currently 4.3 days. Based on an average daily volume of 720,652 shares, the short-interest ratio is currently 4.3 days. Approximately 3.5% of the company’s stock are sold short.

Insider Buying and Selling at RLI

In other RLI news, CEO Craig W. Kliethermes bought 5,000 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were purchased at an average price of $57.45 per share, for a total transaction of $287,250.00. Following the acquisition, the chief executive officer owned 143,990 shares in the company, valued at approximately $8,272,225.50. This represents a 3.60% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jennifer L. Klobnak purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was acquired at an average price of $57.99 per share, with a total value of $115,980.00. Following the completion of the purchase, the chief operating officer owned 100,318 shares in the company, valued at $5,817,440.82. This represents a 2.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RLI

A number of large investors have recently made changes to their positions in RLI. Caitong International Asset Management Co. Ltd increased its position in shares of RLI by 1,005.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,267 shares of the insurance provider’s stock valued at $145,000 after purchasing an additional 2,062 shares during the last quarter. DGS Capital Management LLC purchased a new stake in RLI during the fourth quarter valued at approximately $364,000. Virtu Financial LLC purchased a new stake in RLI during the fourth quarter valued at approximately $738,000. Alberta Investment Management Corp bought a new position in RLI in the fourth quarter worth approximately $1,472,000. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of RLI by 63.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,419 shares of the insurance provider’s stock worth $603,000 after acquiring an additional 3,670 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RLI has been the topic of a number of recent research reports. Truist Financial set a $58.00 price objective on shares of RLI in a report on Friday, January 23rd. Citizens Jmp reissued a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. Zacks Research lowered RLI from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Friday, January 23rd. Finally, Keefe, Bruyette & Woods raised RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $65.20.

RLI Stock Down 1.4%

Shares of RLI stock opened at $61.35 on Friday. RLI has a twelve month low of $55.80 and a twelve month high of $81.79. The company’s 50 day moving average is $60.81 and its 200 day moving average is $62.93. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 14.07 and a beta of 0.50.

RLI (NYSE:RLI) last announced 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. The business had revenue of $465.69 million during the quarter, compared to analyst estimates of $447.53 million. RLI had a net margin of 21.43% and a return on equity of 18.67%. During the same period in the previous year, the business earned $0.41 EPS. Sell-side analysts expect that RLI will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a 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.