RLI Corp. $RLI Shares Acquired by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. increased its holdings in shares of RLI Corp. (NYSE:RLI) by 5.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,341,985 shares of the insurance provider’s stock after purchasing an additional 73,207 shares during the quarter. RLI makes up approximately 2.5% of Van Berkom & Associates Inc.’s portfolio, making the stock its 17th biggest position. Van Berkom & Associates Inc.’s holdings in RLI were worth $76,547,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in RLI by 94.4% in 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 last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in RLI by 156.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 283 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of RLI by 72.1% during the 4th 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. Eagle Bay Advisors LLC purchased a new stake in shares of RLI during the 4th quarter worth approximately $43,000. Finally, IFP Advisors Inc boosted its holdings 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 in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Trading Down 0.3%

RLI stock opened at $61.40 on Monday. The company has a market capitalization of $5.65 billion, a P/E ratio of 14.35 and a beta of 0.38. The business has a 50 day simple moving average of $54.78 and a 200-day simple moving average of $57.46. RLI Corp. has a twelve month low of $47.26 and a twelve month high of $71.11.

RLI (NYSE:RLI) last announced its earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.10. RLI had a net margin of 20.81% and a return on equity of 17.72%. The business had revenue of $423.87 million for the quarter, compared to analysts’ expectations of $564.47 million. During the same period in the previous year, the company posted $0.92 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Research analysts predict that RLI Corp. will post 2.75 EPS for the current fiscal year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 29th. This is an increase from RLI’s previous quarterly dividend of $0.16. RLI’s payout ratio is 16.82%.

Analyst Ratings Changes

A number of research analysts recently commented on RLI shares. Wells Fargo & Company increased their target price on shares of RLI from $55.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods boosted their price target on shares of RLI from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Zacks Research upgraded shares of RLI from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Weiss Ratings lowered RLI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Finally, Wall Street Zen cut RLI from a “hold” rating to a “sell” rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.50.

Insider Buying and Selling at RLI

In other RLI news, CEO Craig W. Kliethermes bought 5,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was acquired at an average price of $52.00 per share, for a total transaction of $260,000.00. Following the completion of the purchase, the chief executive officer owned 148,990 shares of the company’s stock, valued at approximately $7,747,480. This represents a 3.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Clark C. Kellogg purchased 3,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the acquisition, the director owned 4,502 shares of the company’s stock, valued at approximately $229,151.80. The trade was a 199.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 16,500 shares of company stock valued at $858,955. 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.