Northwestern Mutual Wealth Management Co. Acquires New Position in RLI Corp. $RLI

Northwestern Mutual Wealth Management Co. purchased a new stake in RLI Corp. (NYSE:RLI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 13,162 shares of the insurance provider’s stock, valued at approximately $777,000.

A number of other institutional investors also recently modified their holdings of RLI. Covestor Ltd grew its stake in shares of RLI by 13.0% during the fourth quarter. Covestor Ltd now owns 1,590 shares of the insurance provider’s stock worth $102,000 after buying an additional 183 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of RLI by 28.5% in the 2nd quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 185 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of RLI by 94.4% during the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 201 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in RLI by 0.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 75,502 shares of the insurance provider’s stock worth $4,924,000 after acquiring an additional 207 shares during the last quarter. Finally, Commerce Bank grew its position in RLI by 2.9% during the 4th quarter. Commerce Bank now owns 8,079 shares of the insurance provider’s stock worth $517,000 after acquiring an additional 224 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on RLI shares. Weiss Ratings upgraded RLI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. Jefferies Financial Group lowered shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 target price on the stock. in a report on Tuesday. Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 price target (up from $70.00) on shares of RLI in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company cut shares of RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 price objective on the stock. in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $63.20.

Insider Buying and Selling

In other RLI news, Director Clark C. Kellogg bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $50.90 per share, with a total value of $152,700.00. Following the completion of the purchase, the director directly owned 4,502 shares of the company’s stock, valued at approximately $229,151.80. This trade represents a 199.73% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.39% of the stock is owned by corporate insiders.

RLI Stock Performance

NYSE:RLI opened at $64.91 on Thursday. RLI Corp. has a 52 week low of $47.26 and a 52 week high of $68.69. The firm’s fifty day moving average is $61.24 and its 200-day moving average is $58.12. The firm has a market cap of $5.96 billion, a P/E ratio of 13.64 and a beta of 0.38.

RLI (NYSE:RLI) last released its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. The business had revenue of $575.57 million for the quarter, compared to analyst estimates of $568.70 million. RLI had a net margin of 22.22% and a return on equity of 17.61%. RLI’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. As a group, sell-side analysts anticipate that RLI Corp. will post 2.88 earnings per share for the current year.

RLI Dividend Announcement

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

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.