Prospera Financial Services Inc Sells 30,855 Shares of RLI Corp. $RLI

Prospera Financial Services Inc trimmed its position in shares of RLI Corp. (NYSE:RLI) by 20.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,612 shares of the insurance provider’s stock after selling 30,855 shares during the quarter. Prospera Financial Services Inc’s holdings in RLI were worth $7,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in RLI by 94.4% during the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after buying an additional 201 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake 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 buying an additional 283 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in RLI by 72.1% during the fourth 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. AlphaQuest LLC bought a new stake in RLI during the third quarter worth about $43,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of RLI during the fourth quarter worth approximately $43,000. 77.89% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, COO Jennifer L. Klobnak bought 2,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $53.42 per share, with a total value of $106,840.00. Following the completion of the purchase, the chief operating officer owned 102,318 shares of the company’s stock, valued at approximately $5,465,827.56. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.39% of the company’s stock.

RLI Price Performance

Shares of NYSE RLI opened at $52.56 on Monday. The company’s 50 day simple moving average is $55.48 and its 200 day simple moving average is $59.63. RLI Corp. has a fifty-two week low of $47.26 and a fifty-two week high of $77.24. The firm has a market capitalization of $4.83 billion, a P/E ratio of 12.28 and a beta of 0.42.

RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $564.47 million. During the same period in the prior year, the business posted $0.92 earnings per share. RLI’s revenue was up 4.0% compared to the same quarter last year. Sell-side analysts expect that RLI Corp. will post 2.7 EPS for the current fiscal year.

RLI Increases Dividend

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

Wall Street Analysts Forecast Growth

RLI has been the topic of a number of research reports. Weiss Ratings lowered shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. 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. Wall Street Zen lowered shares of RLI from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Wells Fargo & Company reduced their target price on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Finally, Zacks Research upgraded shares of RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.