RLI Corp. $RLI Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its position in shares of RLI Corp. (NYSE:RLI) by 26.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,625 shares of the insurance provider’s stock after purchasing an additional 1,165 shares during the quarter. Apollon Wealth Management LLC’s holdings in RLI were worth $406,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of RLI. Signaturefd LLC boosted its position in shares of RLI by 16.0% in the 2nd quarter. Signaturefd LLC now owns 1,240 shares of the insurance provider’s stock worth $90,000 after buying an additional 171 shares in the last quarter. Golden State Wealth Management LLC raised its position in RLI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 186 shares during the last quarter. SBI Securities Co. Ltd. raised its position in RLI by 56.8% during the first quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 192 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of RLI by 100.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 198 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of RLI by 88.5% during the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 224 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Insider Transactions at RLI

In other news, COO Jennifer L. Klobnak purchased 3,000 shares of the stock in a transaction on Thursday, July 24th. The stock was purchased at an average price of $69.15 per share, with a total value of $207,450.00. Following the completion of the transaction, the chief operating officer owned 98,450 shares in the company, valued at approximately $6,807,817.50. The trade was a 3.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.16% of the company’s stock.

RLI Stock Performance

RLI stock opened at $59.62 on Friday. The firm has a market capitalization of $5.47 billion, a P/E ratio of 17.08 and a beta of 0.60. The stock has a fifty day moving average price of $65.73 and a 200 day moving average price of $70.54. RLI Corp. has a 52 week low of $59.01 and a 52 week high of $91.14. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, July 21st. The insurance provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. The company had revenue of $562.28 million during the quarter, compared to analysts’ expectations of $445.55 million. RLI had a return on equity of 15.82% and a net margin of 17.81%.The firm’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.72 EPS. Equities research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 29th. RLI’s payout ratio is 18.34%.

Analyst Ratings Changes

A number of equities research analysts have commented on RLI shares. Truist Financial set a $62.00 target price on RLI and gave the company a “hold” rating in a report on Friday, October 3rd. Wall Street Zen upgraded RLI from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $72.80.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.