MQS Management LLC Acquires 8,053 Shares of RLI Corp. $RLI

MQS Management LLC boosted its holdings in RLI Corp. (NYSE:RLI) by 201.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,058 shares of the insurance provider’s stock after acquiring an additional 8,053 shares during the quarter. MQS Management LLC’s holdings in RLI were worth $786,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RLI. Allianz Asset Management GmbH raised its stake in shares of RLI by 2.3% in the second quarter. Allianz Asset Management GmbH now owns 7,104 shares of the insurance provider’s stock worth $513,000 after purchasing an additional 163 shares during the last quarter. Vista Finance LLC boosted its position in shares of RLI by 4.0% during the second quarter. Vista Finance LLC now owns 4,655 shares of the insurance provider’s stock valued at $336,000 after buying an additional 181 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in RLI by 6.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,341 shares of the insurance provider’s stock worth $241,000 after buying an additional 195 shares in the last quarter. Brookstone Capital Management raised its position in RLI by 5.6% in the 2nd quarter. Brookstone Capital Management now owns 3,876 shares of the insurance provider’s stock valued at $280,000 after buying an additional 207 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in RLI by 4.6% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 4,866 shares of the insurance provider’s stock valued at $351,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several research firms have recently issued reports on RLI. Truist Financial set a $58.00 target price on shares of RLI in a research note on Friday, January 23rd. Zacks Research downgraded shares of RLI from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. 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. Keefe, Bruyette & Woods cut their target price on RLI from $85.00 to $81.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 6th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, RLI has an average rating of “Hold” and an average price target of $65.20.

RLI Stock Up 3.0%

RLI stock opened at $62.09 on Wednesday. The firm has a 50 day moving average price of $61.71 and a 200-day moving average price of $63.48. The company has a quick ratio of 0.35, a current ratio of 0.32 and a debt-to-equity ratio of 0.05. RLI Corp. has a twelve month low of $55.80 and a twelve month high of $81.79. The company has a market capitalization of $5.70 billion, a P/E ratio of 14.24 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 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.18. RLI had a net margin of 21.43% and a return on equity of 18.67%. The company had revenue of $465.69 million for the quarter, compared to analysts’ expectations of $447.53 million. During the same quarter in the previous year, the firm posted $0.41 EPS. As a group, equities analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 28th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, November 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. RLI’s dividend payout ratio is presently 14.68%.

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.