RLI Corp. $RLI Shares Sold by Appleton Partners Inc. MA

Appleton Partners Inc. MA cut its holdings in shares of RLI Corp. (NYSE:RLI) by 11.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,715 shares of the insurance provider’s stock after selling 615 shares during the period. Appleton Partners Inc. MA’s holdings in RLI were worth $341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in RLI by 95.2% during the 1st quarter. Vanguard Group Inc. now owns 8,996,643 shares of the insurance provider’s stock valued at $722,700,000 after acquiring an additional 4,388,400 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of RLI by 117.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,226,797 shares of the insurance provider’s stock valued at $419,869,000 after purchasing an additional 2,817,616 shares during the period. Neuberger Berman Group LLC raised its stake in shares of RLI by 106.6% during the first quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider’s stock valued at $220,967,000 after purchasing an additional 1,419,212 shares in the last quarter. Markel Group Inc. lifted its holdings in RLI by 100.0% in the first quarter. Markel Group Inc. now owns 2,394,544 shares of the insurance provider’s stock worth $192,354,000 after purchasing an additional 1,197,272 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in RLI by 97.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider’s stock valued at $149,569,000 after buying an additional 920,799 shares in the last quarter. 77.89% of the stock is owned by institutional investors.

Insider Activity at RLI

In related news, COO Jennifer L. Klobnak purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The stock was acquired at an average price of $69.15 per share, for a total transaction of $207,450.00. Following the transaction, the chief operating officer directly owned 98,450 shares of the company’s stock, valued at $6,807,817.50. This trade represents a 3.14% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RLI has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a report on Saturday, September 27th. Finally, Truist Financial set a $62.00 price target on RLI and gave the company a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $75.83.

RLI Stock Down 0.6%

RLI stock opened at $64.13 on Tuesday. The firm has a market cap of $5.89 billion, a PE ratio of 18.38 and a beta of 0.60. RLI Corp. has a 12 month low of $62.04 and a 12 month high of $91.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a 50 day simple moving average of $66.40 and a 200 day simple moving average of $71.44.

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

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 29th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. RLI’s payout ratio is 18.34%.

RLI 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.