RLI Corp. $RLI Shares Acquired by Van Hulzen Asset Management LLC

Van Hulzen Asset Management LLC lifted its holdings in shares of RLI Corp. (NYSE:RLI) by 98.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 30,046 shares of the insurance provider’s stock after buying an additional 14,886 shares during the period. Van Hulzen Asset Management LLC’s holdings in RLI were worth $1,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Chatham Capital Group Inc. raised its position in shares of RLI by 0.7% during the 4th 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. Covestor Ltd raised its position in shares of RLI by 13.0% during the 4th quarter. Covestor Ltd now owns 1,590 shares of the insurance provider’s stock worth $102,000 after acquiring an additional 183 shares in the last quarter. Allworth Financial LP raised its position in shares of RLI by 5.3% during the 3rd 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 shares of RLI by 94.4% during the 4th 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. Finally, Public Employees Retirement System of Ohio raised its position in shares of RLI by 0.3% during the 3rd 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. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

RLI Stock Up 0.7%

RLI opened at $53.02 on Friday. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 12.39 and a beta of 0.42. RLI Corp. has a 52 week low of $47.26 and a 52 week high of $77.24. The business’s 50 day moving average is $55.64 and its two-hundred day moving average is $59.67.

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

RLI Increases Dividend

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

Insider Buying and Selling

In other news, COO Jennifer L. Klobnak purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $53.42 per share, with a total value of $106,840.00. Following the completion of the transaction, the chief operating officer directly owned 102,318 shares in the company, valued at approximately $5,465,827.56. This represents a 1.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.39% of the stock is currently owned by company insiders.

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.