432,621 Shares in RLI Corp. $RLI Bought by Jupiter Topco LLC

Jupiter Topco LLC purchased a new position in RLI Corp. (NYSE:RLI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 432,621 shares of the insurance provider’s stock, valued at approximately $25,555,000. Jupiter Topco LLC owned 0.47% of RLI at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in shares of RLI by 94.4% during the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 201 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of RLI by 156.4% in the 3rd 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 during the period. IFP Advisors Inc grew its stake in shares of RLI by 85.9% in 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 bought a new stake in RLI in the 3rd quarter valued at about $47,000. Finally, Versant Capital Management Inc increased its position in 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 buying an additional 185 shares in the last quarter. 77.89% of the stock is owned by institutional investors.

RLI Price Performance

RLI opened at $64.38 on Friday. RLI Corp. has a fifty-two week low of $47.26 and a fifty-two week high of $68.29. The firm has a market capitalization of $5.91 billion, a PE ratio of 13.53 and a beta of 0.38. The company’s 50-day moving average is $61.68 and its 200 day moving average is $58.18.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. The business had revenue of $575.57 million during 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%.The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 EPS. As a group, analysts expect that RLI Corp. will post 2.88 EPS for the current year.

RLI Announces Dividend

The business 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 of this dividend is Monday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. RLI’s payout ratio is presently 15.13%.

Analyst Ratings Changes

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

Insider Transactions at RLI

In related news, Director Clark C. Kellogg purchased 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, for a total transaction of $152,700.00. Following the completion of the acquisition, the director owned 4,502 shares of the company’s stock, valued at $229,151.80. This represents a 199.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.39% of the company’s stock.

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.