RLI (NYSE:RLI) Director Purchases $129,975.00 in Stock

RLI Corp. (NYSE:RLI) Director David Duclos purchased 2,500 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were acquired at an average cost of $51.99 per share, with a total value of $129,975.00. Following the acquisition, the director directly owned 9,780 shares in the company, valued at approximately $508,462.20. The trade was a 34.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

RLI Price Performance

RLI stock traded down $1.47 during mid-day trading on Friday, hitting $50.03. 1,135,441 shares of the company’s stock traded hands, compared to its average volume of 820,001. The firm has a 50 day simple moving average of $54.72 and a two-hundred day simple moving average of $59.38. RLI Corp. has a fifty-two week low of $47.26 and a fifty-two week high of $77.24. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 11.69 and a beta of 0.42.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.10. RLI had a return on equity of 17.72% and a net margin of 20.81%.The business had revenue of $423.87 million during the quarter, compared to the consensus estimate of $564.47 million. During the same quarter last year, the firm posted $0.92 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts anticipate that RLI Corp. will post 2.75 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.18 per share. This is an increase from RLI’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. RLI’s payout ratio is 14.95%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RLI. Royal Bank of Canada grew its position in RLI by 115.1% in the first quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider’s stock valued at $4,529,000 after acquiring an additional 30,170 shares during the last quarter. Goldman Sachs Group Inc. grew its position in RLI by 110.8% in the first quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider’s stock valued at $14,902,000 after acquiring an additional 97,501 shares during the last quarter. Empowered Funds LLC grew its position in RLI by 472.3% in the first quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider’s stock valued at $2,344,000 after acquiring an additional 24,079 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in RLI by 46.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 493 shares during the last quarter. Finally, Amundi grew its position in RLI by 16,550.0% in the second quarter. Amundi now owns 23,976 shares of the insurance provider’s stock valued at $1,689,000 after acquiring an additional 23,832 shares during the last quarter. Institutional investors own 77.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RLI shares. Wall Street Zen cut RLI from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Zacks Research upgraded RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods upgraded RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Weiss Ratings cut RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Finally, Wells Fargo & Company decreased their price target on RLI from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, RLI has an average rating of “Hold” and a consensus target price of $61.50.

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.