RLI (NYSE:RLI) COO Jennifer Klobnak Acquires 2,000 Shares

RLI Corp. (NYSE:RLI) COO Jennifer Klobnak acquired 2,000 shares of RLI 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 purchase, the chief operating officer owned 102,318 shares of the company’s stock, valued at $5,465,827.56. The trade was a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

RLI Stock Performance

NYSE RLI traded down $0.87 on Tuesday, reaching $52.12. The stock had a trading volume of 912,969 shares, compared to its average volume of 822,240. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $77.24. The business’s 50-day moving average price is $55.96 and its 200 day moving average price is $59.76. The stock has a market cap of $4.79 billion, a P/E ratio of 12.18 and a beta of 0.42.

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

RLI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a dividend of $0.18 per share. This is an increase from RLI’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. RLI’s dividend payout ratio is 16.82%.

Analyst Upgrades and Downgrades

RLI has been the subject of a number of recent research reports. Wall Street Zen cut 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 report on Thursday, April 2nd. Truist Financial set a $58.00 price target on RLI in a report on Friday, January 23rd. Jefferies Financial Group raised shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective on the stock in a research note on Friday, January 23rd. Finally, Wells Fargo & Company cut their price objective on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.50.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RLI. Vanguard Group Inc. raised its position in RLI by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock worth $604,542,000 after acquiring an additional 310,857 shares in the last quarter. State Street Corp boosted its position in shares of RLI by 1.4% during the 4th quarter. State Street Corp now owns 8,875,002 shares of the insurance provider’s stock worth $567,823,000 after purchasing an additional 124,687 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of RLI by 33.1% during the 1st quarter. Wasatch Advisors LP now owns 2,579,955 shares of the insurance provider’s stock worth $147,161,000 after purchasing an additional 641,769 shares during the period. Geode Capital Management LLC grew its stake in shares of RLI by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 2,191,891 shares of the insurance provider’s stock worth $140,260,000 after purchasing an additional 67,025 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of RLI by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,920,823 shares of the insurance provider’s stock valued at $109,567,000 after purchasing an additional 21,299 shares in the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

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.