RLI Corp. $RLI Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its stake in shares of RLI Corp. (NYSE:RLI) by 4.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 536,366 shares of the insurance provider’s stock after buying an additional 20,547 shares during the quarter. ProShare Advisors LLC’s holdings in RLI were worth $34,317,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RLI. Wasatch Advisors LP acquired a new stake in shares of RLI during the second quarter worth $84,608,000. Two Sigma Investments LP boosted its position in shares of RLI by 353.1% in the 3rd quarter. Two Sigma Investments LP now owns 446,378 shares of the insurance provider’s stock valued at $29,113,000 after purchasing an additional 347,858 shares during the period. Vanguard Group Inc. increased its stake in RLI by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock worth $604,542,000 after purchasing an additional 310,857 shares in the last quarter. UBS Group AG raised its holdings in RLI by 102.7% during the 3rd quarter. UBS Group AG now owns 558,613 shares of the insurance provider’s stock worth $36,433,000 after buying an additional 283,083 shares during the period. Finally, State Street Corp lifted its stake in RLI by 3.3% during the third quarter. State Street Corp now owns 8,750,315 shares of the insurance provider’s stock valued at $570,696,000 after buying an additional 279,983 shares in the last quarter. 77.89% of the stock is owned by institutional investors.

RLI Price Performance

NYSE:RLI opened at $52.63 on Thursday. The stock has a market cap of $4.84 billion, a PE ratio of 12.30 and a beta of 0.42. RLI Corp. has a fifty-two week low of $47.26 and a fifty-two week high of $77.24. The stock’s 50-day moving average is $55.79 and its two-hundred day moving average is $59.72.

RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. The business had revenue of $423.87 million during the quarter, compared to analyst estimates of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, equities research analysts anticipate that RLI Corp. will post 2.7 earnings per share for the current year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, May 29th. This is a positive change from RLI’s previous quarterly dividend of $0.16. RLI’s payout ratio is currently 14.95%.

Insider Activity

In related news, COO Jennifer L. Klobnak bought 2,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $53.42 per share, with a total value of $106,840.00. Following the purchase, the chief operating officer directly owned 102,318 shares of the company’s stock, valued at approximately $5,465,827.56. This represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.39% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on RLI shares. Jefferies Financial Group upgraded shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 target price for the company in a report on Friday, January 23rd. Zacks Research upgraded shares of RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Citizens Jmp reaffirmed a “market perform” rating on shares of RLI in a research note on Friday, January 23rd. Keefe, Bruyette & Woods upgraded shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Finally, Truist Financial set a $58.00 target price on shares of RLI in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.50.

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.