Vise Technologies Inc. Grows Position in RLI Corp. $RLI

Vise Technologies Inc. raised its holdings in shares of RLI Corp. (NYSE:RLI) by 221.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,719 shares of the insurance provider’s stock after buying an additional 10,139 shares during the quarter. Vise Technologies Inc.’s holdings in RLI were worth $942,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of 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 in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 in the last quarter. AlphaQuest LLC purchased a new stake in shares of RLI during the third quarter worth $43,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of RLI during the fourth quarter worth $43,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on RLI shares. Weiss Ratings cut shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Wall Street Zen cut shares of RLI from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Zacks Research raised shares of RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Wells Fargo & Company lowered their price target 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, Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, RLI currently has a consensus rating of “Hold” and a consensus target price of $61.50.

RLI Trading Up 0.2%

Shares of RLI opened at $52.21 on Wednesday. The firm has a market cap of $4.80 billion, a P/E ratio of 12.20 and a beta of 0.41. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $74.41. The company’s 50-day moving average price is $53.68 and its 200 day moving average price is $58.72.

RLI (NYSE:RLI) last issued its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.10. The firm had revenue of $423.87 million for the quarter, compared to analyst estimates of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. RLI’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. Equities research analysts forecast that RLI Corp. will post 2.75 earnings per share for the current year.

RLI Increases Dividend

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

Insider Activity at RLI

In related news, COO Jennifer L. Klobnak acquired 2,000 shares of RLI stock in a transaction that occurred on Wednesday, May 27th. The shares were purchased at an average cost of $52.72 per share, for a total transaction of $105,440.00. Following the acquisition, the chief operating officer owned 104,318 shares in the company, valued at approximately $5,499,644.96. This represents a 1.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Clark C. Kellogg bought 3,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was purchased at an average cost of $50.90 per share, with a total value of $152,700.00. Following the completion of the transaction, the director owned 4,502 shares in the company, valued at $229,151.80. This represents a 199.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 16,500 shares of company stock valued at $858,955 in the last quarter. Corporate insiders own 2.39% of the company’s stock.

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.