RLI (NYSE:RLI) CEO Acquires $104,000.00 in Stock

RLI Corp. (NYSE:RLI) CEO Craig Kliethermes acquired 2,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of $52.00 per share, with a total value of $104,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

RLI Stock Performance

RLI stock traded down $0.52 during trading hours on Thursday, hitting $51.53. The company had a trading volume of 882,815 shares, compared to its average volume of 816,839. The company has a 50-day moving average price of $54.92 and a two-hundred day moving average price of $59.46. RLI Corp. has a 1 year low of $47.26 and a 1 year high of $77.24. The firm has a market cap of $4.74 billion, a P/E ratio of 12.04 and a beta of 0.42.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $564.47 million. During the same quarter in the prior year, the company earned $0.92 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts anticipate that RLI Corp. will post 2.7 EPS for the current year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. This is a boost from RLI’s previous quarterly dividend of $0.16. RLI’s dividend payout ratio is currently 16.82%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its holdings 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 last quarter. Northwestern Mutual Wealth Management Co. raised its holdings 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 worth $30,000 after buying an additional 283 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of RLI by 72.1% in 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 last quarter. AlphaQuest LLC purchased a new position in shares of RLI in the third quarter worth $43,000. Finally, Eagle Bay Advisors LLC purchased a new position in shares of RLI during the fourth quarter worth $43,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RLI shares. Weiss Ratings cut shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Wall Street Zen cut shares of RLI from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Zacks Research raised shares of RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Wells Fargo & Company decreased their target price on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.50.

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.