RLI Corp. $RLI Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. trimmed its position in RLI Corp. (NYSE:RLI) by 25.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 129,972 shares of the insurance provider’s stock after selling 43,496 shares during the period. Alps Advisors Inc.’s holdings in RLI were worth $8,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RLI. Quent Capital LLC acquired a new position in shares of RLI in the third quarter valued at about $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of RLI by 7,300.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 365 shares during the period. Clarity Asset Management Inc. purchased a new stake in RLI in the second quarter valued at approximately $28,000. Hantz Financial Services Inc. increased its holdings in RLI by 3,645.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock worth $30,000 after buying an additional 401 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in RLI during the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Zacks Research cut shares of RLI from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Citizens Jmp reaffirmed a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. Wells Fargo & Company set a $59.00 price objective on RLI and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 target price on the stock in a research note on Friday, January 23rd. Finally, Truist Financial set a $58.00 target price on RLI in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $65.20.

Insider Buying and Selling

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

RLI Trading Down 0.4%

RLI stock opened at $61.73 on Monday. RLI Corp. has a 52-week low of $55.80 and a 52-week high of $81.79. The company has a quick ratio of 0.35, a current ratio of 0.32 and a debt-to-equity ratio of 0.05. The firm has a market cap of $5.67 billion, a P/E ratio of 14.16 and a beta of 0.53. The company’s 50-day simple moving average is $61.74 and its 200-day simple moving average is $63.57.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.18. The firm had revenue of $465.69 million during the quarter, compared to analyst estimates of $447.53 million. RLI had a return on equity of 18.67% and a net margin of 21.43%.During the same quarter in the previous year, the business earned $0.41 EPS. As a group, equities analysts forecast that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 28th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, November 28th. RLI’s dividend payout ratio is presently 14.68%.

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.