RLI Corp. (NYSE:RLI) Short Interest Update

RLI Corp. (NYSE:RLI) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 3,599,984 shares, a growth of 29.2% from the January 15th total of 2,785,912 shares. Based on an average daily volume of 1,180,642 shares, the days-to-cover ratio is presently 3.0 days. Currently, 4.0% of the shares of the company are short sold. Currently, 4.0% of the shares of the company are short sold. Based on an average daily volume of 1,180,642 shares, the days-to-cover ratio is presently 3.0 days.

Insider Activity at RLI

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

Institutional Investors Weigh In On RLI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLI. Quent Capital LLC purchased a new position in shares of RLI during the 3rd quarter valued at $26,000. Farther Finance Advisors LLC increased its position in RLI by 94.4% in the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 201 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in RLI by 7,300.0% in the 2nd 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 last quarter. Clarity Asset Management Inc. purchased a new stake in shares of RLI during the 2nd quarter worth about $28,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of RLI by 3,645.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock valued at $30,000 after buying an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Wall Street Analysts Forecast Growth

RLI has been the topic of several research reports. Wells Fargo & Company set a $59.00 price target on shares of RLI and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Truist Financial set a $58.00 price objective on shares of RLI in a research note on Friday, January 23rd. Citizens Jmp reissued a “market perform” rating on shares of RLI in a research note on Friday, January 23rd. Jefferies Financial Group upgraded shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 target price for the company in a report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of RLI from $85.00 to $81.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $65.20.

RLI Stock Down 1.4%

Shares of RLI stock traded down $0.86 during midday trading on Tuesday, hitting $60.77. The company’s stock had a trading volume of 1,468,967 shares, compared to its average volume of 916,003. The firm has a market capitalization of $5.58 billion, a P/E ratio of 13.94 and a beta of 0.53. RLI has a 1-year low of $55.80 and a 1-year 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 stock has a 50-day simple moving average of $61.64 and a 200-day simple moving average of $63.33.

RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $0.41 EPS. As a group, sell-side analysts expect that RLI will post 3.08 earnings per share for the current year.

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.