Vise Technologies Inc. Buys New Stake in RLI Corp. $RLI

Vise Technologies Inc. purchased a new position in shares of RLI Corp. (NYSE:RLI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,582 shares of the insurance provider’s stock, valued at approximately $1,039,000.

Several other large investors have also recently added to or reduced their stakes in RLI. Farther Finance Advisors LLC boosted its position in shares of RLI by 94.4% in 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. grew its stake in shares of RLI by 156.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after buying an additional 283 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of RLI by 85.9% during the 4th quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock valued at $44,000 after buying an additional 316 shares during the period. Advisory Services Network LLC purchased a new stake in shares of RLI during the 3rd quarter valued at about $47,000. Finally, Versant Capital Management Inc lifted its position in RLI by 28.5% during the 2nd quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 185 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RLI

In related news, CEO Craig W. Kliethermes bought 2,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average price of $52.00 per share, for a total transaction of $104,000.00. Following the purchase, the chief executive officer owned 150,990 shares in the company, valued at $7,851,480. This trade represents a 1.34% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Clark C. Kellogg bought 3,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was bought at an average price of $50.90 per share, for a total transaction of $152,700.00. Following the purchase, the director owned 4,502 shares in the company, valued at approximately $229,151.80. This represents a 199.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 9,500 shares of company stock valued at $492,115. 2.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RLI has been the subject of a number of analyst reports. Weiss Ratings upgraded RLI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. UBS Group set a $74.00 target price on shares of RLI in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 target price (up from $70.00) on shares of RLI in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company lowered shares of RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 price target for the company. in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.00.

RLI Stock Up 0.6%

Shares of NYSE RLI opened at $65.47 on Friday. RLI Corp. has a fifty-two week low of $47.26 and a fifty-two week high of $69.19. The business has a 50 day moving average price of $60.52 and a two-hundred day moving average price of $58.02. The firm has a market cap of $6.01 billion, a PE ratio of 13.75 and a beta of 0.38.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.11. The company had revenue of $575.57 million for the quarter, compared to the consensus estimate of $568.70 million. RLI had a return on equity of 17.61% and a net margin of 22.22%.RLI’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 EPS. On average, analysts anticipate that RLI Corp. will post 2.88 earnings per share for the current year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, August 31st. RLI’s dividend payout ratio is 15.13%.

RLI 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.