Vanguard Group Inc. Purchases 148,019 Shares of RLI Corp. $RLI

Vanguard Group Inc. grew its holdings in shares of RLI Corp. (NYSE:RLI) by 1.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,138,072 shares of the insurance provider’s stock after purchasing an additional 148,019 shares during the quarter. Vanguard Group Inc. owned about 9.95% of RLI worth $595,985,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of RLI. Clarity Asset Management Inc. purchased a new stake in shares of RLI during the 2nd quarter valued at approximately $28,000. Quent Capital LLC bought a new stake in RLI during the 3rd quarter valued at $26,000. Hantz Financial Services Inc. lifted its position in shares of RLI by 3,645.5% during the second quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 401 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of RLI during the third quarter worth $43,000. Finally, Winnow Wealth LLC bought a new position in shares of RLI in the third quarter worth $49,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Insider Buying and Selling

In other news, CEO Craig W. Kliethermes purchased 5,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average cost of $57.45 per share, for a total transaction of $287,250.00. Following the acquisition, the chief executive officer directly owned 143,990 shares of the company’s stock, valued at $8,272,225.50. This represents a 3.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jennifer L. Klobnak acquired 2,000 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was purchased at an average price of $57.99 per share, for a total transaction of $115,980.00. Following the transaction, the chief operating officer directly owned 100,318 shares of the company’s stock, valued at approximately $5,817,440.82. This trade represents a 2.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.16% of the company’s stock.

RLI Stock Performance

Shares of RLI stock opened at $61.14 on Wednesday. RLI Corp. has a 52-week low of $55.80 and a 52-week high of $81.79. The company has a fifty day moving average of $61.30 and a 200-day moving average of $63.11. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 14.02 and a beta of 0.53.

RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.18. The business 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 firm posted $0.41 earnings per share. On average, equities research analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial set a $58.00 price objective on RLI in a report on Friday, January 23rd. Keefe, Bruyette & Woods dropped their target price on shares of RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Zacks Research lowered shares of RLI from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Jefferies Financial Group upgraded shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective on the stock in a research report on Friday, January 23rd. Finally, Wells Fargo & Company set a $59.00 target price on shares of RLI and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.