RLI (NYSE:RLI) CEO Buys 5,000 Shares

RLI Corp. (NYSE:RLI) CEO Craig Kliethermes acquired 5,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were acquired at an average price of $52.00 per share, for a total transaction of $260,000.00. Following the completion of the purchase, the chief executive officer owned 148,990 shares of the company’s stock, valued at approximately $7,747,480. This represents a 3.47% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

RLI Stock Down 0.3%

Shares of NYSE RLI traded down $0.15 during midday trading on Tuesday, reaching $52.41. 545,984 shares of the company’s stock traded hands, compared to its average volume of 816,417. The stock’s 50 day simple moving average is $55.29 and its 200-day simple moving average is $59.57. RLI Corp. has a one year low of $47.26 and a one year high of $77.24. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 12.25 and a beta of 0.42.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.10. RLI had a net margin of 20.81% and a return on equity of 17.72%. The firm had revenue of $423.87 million for the quarter, compared to the consensus estimate of $564.47 million. During the same period last year, the firm earned $0.92 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts predict that RLI Corp. will post 2.7 EPS for the current fiscal year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.18 per share. This is a boost from RLI’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, May 29th. RLI’s payout ratio is 14.95%.

Institutional Investors Weigh In On RLI

Institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its stake in shares of RLI by 94.4% during 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 period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of RLI by 156.4% during 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 period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of RLI by 72.1% during 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 period. AlphaQuest LLC acquired a new stake in shares of RLI during the third quarter worth $43,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of RLI during the fourth quarter worth $43,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RLI shares. Zacks Research upgraded shares of RLI from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Wall Street Zen downgraded shares of RLI from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Wells Fargo & Company dropped their price objective on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Weiss Ratings downgraded shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods upgraded shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, RLI has an average rating of “Hold” and a consensus target price of $61.50.

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.