RLI Corp. $RLI Stock Holdings Trimmed by TD Asset Management Inc

TD Asset Management Inc cut its position in shares of RLI Corp. (NYSE:RLI) by 21.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,308 shares of the insurance provider’s stock after selling 8,246 shares during the quarter. TD Asset Management Inc’s holdings in RLI were worth $1,977,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RLI. Principal Financial Group Inc. lifted its holdings in shares of RLI by 8.0% in the 3rd quarter. Principal Financial Group Inc. now owns 274,777 shares of the insurance provider’s stock worth $17,921,000 after purchasing an additional 20,438 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in RLI by 15.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,422,596 shares of the insurance provider’s stock valued at $92,782,000 after purchasing an additional 191,020 shares during the period. AGF Management Ltd. grew its holdings in RLI by 12.4% in the 2nd quarter. AGF Management Ltd. now owns 39,948 shares of the insurance provider’s stock worth $2,885,000 after buying an additional 4,419 shares in the last quarter. Van Berkom & Associates Inc. boosted its position in RLI by 14.6% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,229,649 shares of the insurance provider’s stock worth $80,198,000 after acquiring an additional 156,241 shares during the period. Finally, Hsbc Holdings PLC grew its stake in shares of RLI by 222.1% in the second quarter. Hsbc Holdings PLC now owns 36,461 shares of the insurance provider’s stock worth $2,613,000 after purchasing an additional 25,140 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

Insider Buying and Selling at RLI

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

RLI Trading Down 1.4%

RLI stock opened at $61.35 on Friday. RLI Corp. has a one year low of $55.80 and a one year high of $81.79. The firm has a 50-day moving average of $60.81 and a two-hundred day moving average of $62.93. The firm has a market capitalization of $5.64 billion, a PE ratio of 14.07 and a beta of 0.50.

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

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.16 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. RLI’s payout ratio is currently 14.68%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Truist Financial set a $58.00 price objective on shares of RLI in a report on Friday, January 23rd. Wells Fargo & Company set a $59.00 target price on RLI and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Zacks Research lowered RLI from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Finally, Citizens Jmp reissued a “market perform” rating on shares of RLI in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.