NewEdge Wealth LLC Raises Position in RLI Corp. $RLI

NewEdge Wealth LLC grew its position in RLI Corp. (NYSE:RLI) by 38.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 42,082 shares of the insurance provider’s stock after buying an additional 11,762 shares during the period. NewEdge Wealth LLC’s holdings in RLI were worth $2,692,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quent Capital LLC purchased a new position in RLI in the third quarter worth about $26,000. Farther Finance Advisors LLC raised its holdings in RLI by 94.4% in the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after buying an additional 201 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in RLI by 156.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock worth $30,000 after buying an additional 283 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in RLI by 72.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock worth $40,000 after buying an additional 259 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of RLI during the third quarter valued at approximately $43,000. 77.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RLI shares. Zacks Research raised shares of RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Wall Street Zen cut shares of RLI from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of RLI in a report on Thursday, April 2nd. Jefferies Financial Group raised shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, RLI presently has an average rating of “Hold” and an average price target of $61.50.

RLI Trading Up 0.5%

Shares of RLI stock opened at $48.57 on Wednesday. RLI Corp. has a 12 month low of $47.56 and a 12 month high of $77.24. The stock has a market cap of $4.47 billion, a P/E ratio of 11.35 and a beta of 0.42. The company has a 50 day simple moving average of $57.12 and a two-hundred day simple moving average of $60.09.

RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.10. The business had revenue of $423.87 million for the quarter, compared to analysts’ expectations of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. As a group, equities analysts forecast that RLI Corp. will post 2.7 earnings per share for the current year.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, March 2nd. RLI’s dividend payout ratio (DPR) is currently 14.95%.

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.