Susquehanna Fundamental Investments LLC Sells 25,300 Shares of RLI Corp. $RLI

Susquehanna Fundamental Investments LLC lowered its position in RLI Corp. (NYSE:RLI) by 52.7% during the second quarter, Holdings Channel reports. The institutional investor owned 22,688 shares of the insurance provider’s stock after selling 25,300 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in RLI were worth $1,340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp grew its holdings in RLI by 1.4% in the fourth quarter. State Street Corp now owns 8,875,002 shares of the insurance provider’s stock worth $567,823,000 after purchasing an additional 124,687 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of RLI during the 2nd quarter valued at $492,175,000. Wasatch Advisors LP lifted its holdings in shares of RLI by 40.7% during the 2nd quarter. Wasatch Advisors LP now owns 3,631,273 shares of the insurance provider’s stock valued at $214,499,000 after purchasing an additional 1,051,318 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of RLI by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,191,891 shares of the insurance provider’s stock worth $140,260,000 after purchasing an additional 67,025 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of RLI by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,920,823 shares of the insurance provider’s stock worth $109,567,000 after purchasing an additional 21,299 shares in the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Wall Street Analyst Weigh In

RLI has been the topic of several recent analyst reports. Weiss Ratings raised RLI from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. UBS Group set a $74.00 price objective on shares of RLI in a report on Tuesday, July 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 target price (up from $70.00) on shares of RLI in a research note on Tuesday, July 28th. Wells Fargo & Company downgraded shares of 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. Finally, Jefferies Financial Group downgraded shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 price objective for the company. in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $63.20.

RLI Trading Down 0.2%

RLI opened at $63.35 on Wednesday. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $68.29. The firm has a 50 day moving average of $62.08 and a two-hundred day moving average of $58.17. The firm has a market capitalization of $5.81 billion, a PE ratio of 13.31 and a beta of 0.38.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.72 by $0.11. RLI had a net margin of 22.22% and a return on equity of 17.61%. The business had revenue of $575.57 million for the quarter, compared to the consensus estimate of $568.70 million. During the same period in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, analysts predict that RLI Corp. will post 2.88 EPS for the current fiscal year.

RLI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. RLI’s dividend payout ratio (DPR) is currently 15.13%.

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.