Simplicity Wealth LLC Acquires Shares of 13,447 RLI Corp. $RLI

Simplicity Wealth LLC acquired a new stake in RLI Corp. (NYSE:RLI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,447 shares of the insurance provider’s stock, valued at approximately $794,000.

A number of other hedge funds have also modified their holdings of the business. UBS Group AG grew its position in RLI by 8.7% during the 4th quarter. UBS Group AG now owns 607,176 shares of the insurance provider’s stock worth $38,847,000 after purchasing an additional 48,563 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of RLI by 33.1% in the first quarter. Wasatch Advisors LP now owns 2,579,955 shares of the insurance provider’s stock valued at $147,161,000 after buying an additional 641,769 shares during the last quarter. Hingham Institution for Savings acquired a new stake in shares of RLI during the fourth quarter worth about $1,919,000. Chase Investment Counsel Corp acquired a new stake in shares of RLI during the fourth quarter worth about $1,535,000. Finally, Vanguard Group Inc. grew its holdings in shares of RLI by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock worth $604,542,000 after buying an additional 310,857 shares during the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RLI news, Director David B. Duclos purchased 2,500 shares of RLI stock in a transaction dated Thursday, May 28th. The stock was 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 of the company’s stock, valued at $508,462.20. This represents a 34.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer L. Klobnak purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was acquired at an average price of $52.72 per share, for a total transaction of $105,440.00. Following the completion of the purchase, the chief operating officer owned 104,318 shares of the company’s stock, valued at approximately $5,499,644.96. This represents a 1.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 16,500 shares of company stock valued at $858,955 over the last 90 days. 2.39% of the stock is owned by corporate insiders.

RLI Stock Up 0.1%

Shares of RLI stock opened at $63.80 on Monday. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 13.40 and a beta of 0.38. RLI Corp. has a 52-week low of $47.26 and a 52-week high of $69.19. The company’s 50-day simple moving average is $59.42 and its 200-day simple moving average is $57.79.

RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. RLI had a net margin of 22.22% and a return on equity of 17.61%. The firm had revenue of $575.57 million during the quarter, compared to the consensus estimate of $568.70 million. During the same quarter last year, the firm earned $0.82 earnings per share. The firm’s revenue was up 15.2% compared to the same quarter last year. Equities research analysts anticipate that RLI Corp. will post 2.88 EPS for the current year.

RLI Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. RLI’s dividend payout ratio is 15.13%.

Wall Street Analysts Forecast Growth

RLI has been the topic of several recent research reports. Weiss Ratings upgraded RLI from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 target price (up from $70.00) on shares of RLI in a research note on Tuesday, July 28th. UBS Group set a $74.00 target price on RLI in a report on Tuesday, July 28th. Finally, Wells Fargo & Company downgraded RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 price target for the company. in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.