RLI Corp. $RLI Position Raised by Maren Capital LLC

Maren Capital LLC raised its holdings in shares of RLI Corp. (NYSE:RLI) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,701,167 shares of the insurance provider’s stock after purchasing an additional 11,853 shares during the quarter. RLI makes up approximately 5.9% of Maren Capital LLC’s portfolio, making the stock its 8th largest holding. Maren Capital LLC owned 1.85% of RLI worth $108,841,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RLI. Farther Finance Advisors LLC lifted its holdings in RLI by 94.4% during the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 201 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in RLI by 156.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 283 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in RLI by 72.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 259 shares during the last quarter. AlphaQuest LLC purchased a new stake in RLI during the third quarter valued at about $43,000. Finally, Eagle Bay Advisors LLC purchased a new stake in RLI during the fourth quarter valued at about $43,000. 77.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RLI has been the topic of several recent research reports. 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 report on Thursday, April 9th. Weiss Ratings downgraded shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Zacks Research raised shares of RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Wall Street Zen downgraded shares of RLI from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. 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’s stock. According to data from MarketBeat, RLI presently has a consensus rating of “Hold” and an average price target of $61.50.

RLI Trading Up 0.1%

Shares of RLI stock opened at $54.39 on Monday. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $74.17. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 12.71 and a beta of 0.41. The company’s 50-day moving average price is $53.50 and its 200-day moving average price is $58.52.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping 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 in the prior year, the firm posted $0.92 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts predict that RLI Corp. will post 2.75 earnings per share for the current year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a $0.18 dividend. This is an increase from RLI’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, May 29th. RLI’s payout ratio is 16.82%.

Insider Activity at RLI

In related news, COO Jennifer L. Klobnak bought 2,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of $52.72 per share, with a total value of $105,440.00. Following the completion of the purchase, the chief operating officer directly owned 104,318 shares of the company’s stock, valued at $5,499,644.96. This trade represents a 1.95% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Craig W. Kliethermes bought 2,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average cost of $52.00 per share, for a total transaction of $104,000.00. Following the completion of the purchase, the chief executive officer directly owned 150,990 shares of the company’s stock, valued at $7,851,480. This represents a 1.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 16,500 shares of company stock valued at $858,955. Company insiders own 2.39% of the company’s stock.

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.