Nepsis Inc. Boosts Position in RLI Corp. $RLI

Nepsis Inc. increased its position in RLI Corp. (NYSE:RLI) by 45.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 289,191 shares of the insurance provider’s stock after purchasing an additional 89,969 shares during the quarter. RLI makes up 5.7% of Nepsis Inc.’s portfolio, making the stock its 2nd biggest position. Nepsis Inc.’s holdings in RLI were worth $18,502,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of RLI by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,138,072 shares of the insurance provider’s stock valued at $595,985,000 after purchasing an additional 148,019 shares during the last quarter. State Street Corp raised its stake in shares of RLI by 3.3% during the third quarter. State Street Corp now owns 8,750,315 shares of the insurance provider’s stock worth $570,696,000 after buying an additional 279,983 shares during the last quarter. Maren Capital LLC lifted its holdings in RLI by 2.8% in the second quarter. Maren Capital LLC now owns 1,595,038 shares of the insurance provider’s stock valued at $115,194,000 after buying an additional 42,985 shares during the period. JPMorgan Chase & Co. lifted its holdings in RLI by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 1,422,596 shares of the insurance provider’s stock valued at $92,782,000 after buying an additional 191,020 shares during the period. Finally, Van Berkom & Associates Inc. boosted its stake in RLI by 14.6% in the third quarter. Van Berkom & Associates Inc. now owns 1,229,649 shares of the insurance provider’s stock valued at $80,198,000 after acquiring an additional 156,241 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Price Performance

Shares of RLI stock opened at $56.37 on Friday. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 12.93 and a beta of 0.50. The stock’s 50-day moving average is $60.13 and its 200-day moving average is $62.01. RLI Corp. has a one year low of $55.80 and a one year high of $81.79.

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

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, March 2nd. RLI’s dividend payout ratio (DPR) is currently 14.68%.

Insider Activity at RLI

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Zacks Research cut shares of RLI from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target on the stock in a research report on Friday, January 23rd. Truist Financial set a $58.00 price objective on RLI in a research note on Friday, January 23rd. Citizens Jmp reiterated a “market perform” rating on shares of RLI in a report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods raised RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.20.

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.