OneDigital Investment Advisors LLC Invests $1.07 Million in RLI Corp. $RLI

OneDigital Investment Advisors LLC acquired a new position in shares of RLI Corp. (NYSE:RLI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 18,117 shares of the insurance provider’s stock, valued at approximately $1,070,000.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in RLI by 115.1% during the 1st quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider’s stock worth $4,529,000 after acquiring an additional 30,170 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of RLI by 110.8% in the first quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider’s stock valued at $14,902,000 after purchasing an additional 97,501 shares during the period. Empowered Funds LLC increased its holdings in shares of RLI by 472.3% in the first quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider’s stock valued at $2,344,000 after purchasing an additional 24,079 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of RLI by 46.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 493 shares during the last quarter. Finally, Amundi raised its stake in shares of RLI by 16,550.0% in the second quarter. Amundi now owns 23,976 shares of the insurance provider’s stock worth $1,689,000 after purchasing an additional 23,832 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Clark C. Kellogg bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the purchase, the director directly owned 4,502 shares in the company, valued at approximately $229,151.80. This trade represents a 199.73% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Craig W. Kliethermes bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of $52.00 per share, with a total value of $104,000.00. Following the completion of the purchase, the chief executive officer owned 150,990 shares in the company, valued at approximately $7,851,480. This trade represents a 1.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 14,500 shares of company stock worth $752,115 over the last 90 days. Company insiders own 2.39% of the company’s stock.

RLI Stock Down 2.1%

Shares of RLI stock opened at $62.42 on Tuesday. RLI Corp. has a 52-week low of $47.26 and a 52-week high of $69.19. The stock has a market cap of $5.73 billion, a PE ratio of 13.11 and a beta of 0.38. The business has a 50-day simple moving average of $59.62 and a 200-day simple moving average of $57.83.

RLI (NYSE:RLI) last posted its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.72 by $0.11. The firm had revenue of $575.57 million for 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%.RLI’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the company earned $0.82 earnings per share. Sell-side analysts anticipate that RLI Corp. will post 2.88 earnings per share for the current fiscal year.

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 31st. RLI’s dividend payout ratio is currently 15.13%.

Analyst Upgrades and Downgrades

RLI has been the topic of a number of recent research reports. Wells Fargo & Company lowered RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 target price on the stock. in a research report on Wednesday, July 29th. UBS Group set a $74.00 price target on shares of RLI in a research report on Tuesday, July 28th. Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $74.00 price objective (up from $70.00) on shares of RLI in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of RLI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $63.00.

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.