Sanctuary Advisors LLC Buys New Position in RLI Corp. $RLI

Sanctuary Advisors LLC bought a new stake in RLI Corp. (NYSE:RLI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,299 shares of the insurance provider’s stock, valued at approximately $1,199,000.

A number of other large investors also recently modified their holdings of RLI. Vanguard Group Inc. grew its stake in shares of RLI by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock worth $604,542,000 after acquiring an additional 310,857 shares during the last quarter. State Street Corp boosted its holdings in RLI by 1.4% in the 4th quarter. State Street Corp now owns 8,875,002 shares of the insurance provider’s stock valued at $567,823,000 after purchasing an additional 124,687 shares during the period. BlackRock Inc. bought a new stake in RLI in the 2nd quarter valued at $492,175,000. Wasatch Advisors LP grew its position in RLI by 40.7% in the 2nd quarter. Wasatch Advisors LP now owns 3,631,273 shares of the insurance provider’s stock worth $214,499,000 after purchasing an additional 1,051,318 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in RLI by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,191,891 shares of the insurance provider’s stock worth $140,260,000 after purchasing an additional 67,025 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at RLI

In other news, Director Clark C. Kellogg purchased 3,000 shares of RLI stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the completion of the transaction, the director directly owned 4,502 shares in the company, valued at approximately $229,151.80. This represents a 199.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.39% of the stock is owned by corporate insiders.

RLI Price Performance

RLI stock opened at $64.18 on Friday. The business has a 50 day simple moving average of $61.46 and a 200 day simple moving average of $58.13. The company has a market capitalization of $5.89 billion, a PE ratio of 13.48 and a beta of 0.38. RLI Corp. has a one year low of $47.26 and a one year high of $68.46.

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

RLI Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Jefferies Financial Group lowered shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 price objective for the company. in a research report on Tuesday. Wells Fargo & Company cut 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. Weiss Ratings raised RLI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods restated 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. Finally, UBS Group set a $74.00 price target on shares of RLI in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, RLI presently has an average rating of “Reduce” and an average target price of $63.20.

RLI 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.