RLI (NYSE:RLI) COO Buys $105,440.00 in Stock

RLI Corp. (NYSE:RLI) COO Jennifer Klobnak acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average cost of $52.72 per share, for a total transaction of $105,440.00. Following the transaction, the chief operating officer owned 104,318 shares in the company, valued at approximately $5,499,644.96. The trade was a 1.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

RLI Trading Down 2.9%

NYSE:RLI opened at $50.03 on Friday. The company has a market cap of $4.60 billion, a PE ratio of 11.69 and a beta of 0.42. RLI Corp. has a twelve month low of $47.26 and a twelve month high of $77.24. The company’s 50 day moving average is $54.54 and its two-hundred day moving average is $59.32.

RLI (NYSE:RLI) last released its earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.10. The company had revenue of $423.87 million for the quarter, compared to the consensus estimate of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. RLI’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. As a group, analysts expect that RLI Corp. will post 2.75 EPS for the current fiscal year.

RLI Increases Dividend

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On RLI

Several large investors have recently made changes to their positions in RLI. Principal Financial Group Inc. raised its position in RLI by 8.0% during the third quarter. Principal Financial Group Inc. now owns 274,777 shares of the insurance provider’s stock worth $17,921,000 after acquiring an additional 20,438 shares during the period. Van Berkom & Associates Inc. raised its position in RLI by 14.6% during the third quarter. Van Berkom & Associates Inc. now owns 1,229,649 shares of the insurance provider’s stock worth $80,198,000 after acquiring an additional 156,241 shares during the period. JPMorgan Chase & Co. raised its position in 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 acquiring an additional 191,020 shares during the period. UBS Group AG raised its position in RLI by 8.7% during the fourth quarter. UBS Group AG now owns 607,176 shares of the insurance provider’s stock worth $38,847,000 after acquiring an additional 48,563 shares during the period. Finally, SG Americas Securities LLC raised its position in RLI by 1,030.2% during the fourth quarter. SG Americas Securities LLC now owns 34,009 shares of the insurance provider’s stock worth $2,176,000 after acquiring an additional 31,000 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Company 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.