RLI Corp. (NYSE:RLI) Short Interest Update

RLI Corp. (NYSE:RLI) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 3,719,519 shares, a growth of 19.2% from the February 12th total of 3,119,737 shares. Approximately 4.1% of the company’s shares are sold short. Based on an average trading volume of 785,875 shares, the short-interest ratio is presently 4.7 days. Based on an average trading volume of 785,875 shares, the short-interest ratio is presently 4.7 days. Approximately 4.1% of the company’s shares are sold short.

Insider Buying and Selling at RLI

In related news, COO Jennifer L. Klobnak purchased 2,000 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were bought at an average price of $57.99 per share, with a total value of $115,980.00. Following the purchase, the chief operating officer directly owned 100,318 shares in the company, valued at $5,817,440.82. This trade represents a 2.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Craig W. Kliethermes purchased 5,000 shares of RLI stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 143,990 shares in the company, valued at $8,272,225.50. The trade was a 3.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.16% of the company’s stock.

Institutional Trading of RLI

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in RLI by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock valued at $604,542,000 after purchasing an additional 310,857 shares in the last quarter. State Street Corp grew its stake in RLI by 1.4% during the fourth quarter. State Street Corp now owns 8,875,002 shares of the insurance provider’s stock worth $567,823,000 after buying an additional 124,687 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 valued at $140,260,000 after buying an additional 67,025 shares during the period. Wasatch Advisors LP increased its holdings in RLI by 65.3% in the 4th quarter. Wasatch Advisors LP now owns 1,938,186 shares of the insurance provider’s stock valued at $124,005,000 after buying an additional 765,344 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of RLI by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,899,524 shares of the insurance provider’s stock valued at $121,536,000 after buying an additional 112,541 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Trading Down 0.4%

NYSE RLI traded down $0.22 during trading on Tuesday, reaching $61.26. The company’s stock had a trading volume of 492,163 shares, compared to its average volume of 761,979. The firm has a 50 day moving average price of $60.46 and a 200 day moving average price of $62.49. RLI has a 12 month low of $55.80 and a 12 month high of $81.79. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 14.05 and a beta of 0.50.

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

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.64 annualized dividend and a yield of 1.0%. RLI’s payout ratio is currently 14.68%.

Wall Street Analyst Weigh In

RLI has been the subject of several analyst reports. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 target price for the company in a research report on Friday, January 23rd. Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Zacks Research cut shares of RLI from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Truist Financial set a $58.00 target price on shares of RLI in a research note on Friday, January 23rd. Finally, Citizens Jmp reiterated a “market perform” rating on shares of RLI in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.20.

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.