Corient Private Wealth LP Takes $4.93 Million Position in RLI Corp. $RLI

Corient Private Wealth LP bought a new position in shares of RLI Corp. (NYSE:RLI) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 83,493 shares of the insurance provider’s stock, valued at approximately $4,932,000.

A number of other institutional investors have also made changes to their positions in the business. Farther Finance Advisors LLC raised its stake in RLI by 94.4% in 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 during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in RLI by 156.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 283 shares during the last quarter. IFP Advisors Inc boosted its position in RLI by 85.9% during the fourth quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 316 shares during the period. Advisory Services Network LLC bought a new position in RLI during the third quarter worth $47,000. Finally, Versant Capital Management Inc increased its holdings in shares of RLI by 28.5% in the second quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 185 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Price Performance

RLI opened at $63.50 on Tuesday. The business has a fifty day simple moving average of $61.89 and a 200 day simple moving average of $58.17. RLI Corp. has a 1 year low of $47.26 and a 1 year high of $68.29. The company has a market capitalization of $5.83 billion, a PE ratio of 13.34 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 for the quarter, topping the consensus estimate of $0.72 by $0.11. RLI had a return on equity of 17.61% and a net margin of 22.22%.The firm had revenue of $575.57 million for the quarter, compared to analysts’ expectations of $568.70 million. During the same quarter last year, the business earned $0.82 EPS. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities analysts anticipate that RLI Corp. will post 2.88 earnings per share for the current fiscal year.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.18 dividend. 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 15.13%.

Analysts Set New Price Targets

RLI has been the topic of several research analyst reports. Weiss Ratings raised shares of RLI from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. UBS Group set a $74.00 target price on shares of RLI in a report on Tuesday, July 28th. Jefferies Financial Group lowered shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 price target on the stock. in a research note on Tuesday, August 25th. Wells Fargo & Company cut shares of RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 price target on the stock. in a report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $63.20.

About RLI

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.