Vanguard Group Inc. Grows Position in RLI Corp. $RLI

Vanguard Group Inc. boosted its holdings in RLI Corp. (NYSE:RLI) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,448,929 shares of the insurance provider’s stock after acquiring an additional 310,857 shares during the quarter. Vanguard Group Inc. owned about 0.10% of RLI worth $604,542,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Chatham Capital Group Inc. raised its position in RLI by 0.7% in the fourth quarter. Chatham Capital Group Inc. now owns 26,460 shares of the insurance provider’s stock worth $1,693,000 after acquiring an additional 180 shares in the last quarter. Allworth Financial LP raised its position in RLI by 5.3% in the third quarter. Allworth Financial LP now owns 3,760 shares of the insurance provider’s stock worth $245,000 after acquiring an additional 189 shares in the last quarter. Farther Finance Advisors LLC raised its position in 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 acquiring an additional 201 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in RLI by 0.3% in the third 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 in the last quarter. Finally, OLD National Bancorp IN raised its position in RLI by 4.0% in the fourth quarter. OLD National Bancorp IN now owns 5,819 shares of the insurance provider’s stock worth $372,000 after acquiring an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Truist Financial set a $58.00 price objective on RLI in a research report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of RLI in a research report on Thursday, April 2nd. Wells Fargo & Company cut their price objective on RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research report on Friday, January 23rd. Finally, Wall Street Zen cut RLI from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $61.50.

RLI Stock Up 0.1%

Shares of RLI stock opened at $51.54 on Monday. RLI Corp. has a fifty-two week low of $50.63 and a fifty-two week high of $77.24. The business has a fifty day simple moving average of $58.57 and a 200-day simple moving average of $60.58. The stock 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 released 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. The company had revenue of $423.87 million during the quarter, compared to the consensus estimate of $564.47 million. RLI had a return on equity of 17.72% and a net margin of 20.81%.RLI’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 earnings per share. On average, sell-side analysts anticipate that RLI Corp. will post 2.71 earnings per share for the current year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, March 2nd. RLI’s dividend payout ratio (DPR) is currently 14.95%.

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.