Chung Wu Investment Group LLC Purchases Shares of 400 RLI Corp. $RLI

Chung Wu Investment Group LLC purchased a new stake in RLI Corp. (NYSE:RLI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 400 shares of the insurance provider’s stock, valued at approximately $29,000.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC increased its holdings in shares of RLI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider’s stock valued at $30,000 after buying an additional 186 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of RLI by 100.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock worth $32,000 after buying an additional 198 shares during the period. Farther Finance Advisors LLC boosted its position in shares of RLI by 88.5% in the first quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider’s stock worth $38,000 after buying an additional 224 shares during the period. Compass Wealth Management LLC boosted its position in shares of RLI by 100.0% in the first quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider’s stock worth $39,000 after buying an additional 240 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of RLI in the second quarter worth $37,000. Institutional investors own 77.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLI in a research report on Saturday, September 27th. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Truist Financial set a $62.00 target price on RLI and gave the stock a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $75.83.

Insider Transactions at RLI

In other RLI news, COO Jennifer L. Klobnak acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The stock was purchased at an average cost of $69.15 per share, for a total transaction of $207,450.00. Following the completion of the acquisition, the chief operating officer owned 98,450 shares of the company’s stock, valued at approximately $6,807,817.50. This trade represents a 3.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.16% of the company’s stock.

RLI Price Performance

Shares of NYSE:RLI opened at $64.13 on Tuesday. 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 Corp. has a 1 year low of $62.04 and a 1 year high of $91.14. The business has a fifty day simple moving average of $66.40 and a 200 day simple moving average of $71.44. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 18.38 and a beta of 0.60.

RLI (NYSE:RLI) last announced its quarterly earnings data 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 return on equity of 15.82% and a net margin of 17.81%.The business had revenue of $562.28 million during the quarter, compared to analyst estimates of $445.55 million. During the same period last year, the company earned $1.72 earnings per share. RLI’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, sell-side analysts predict that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 29th were issued a $0.16 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. RLI’s dividend payout ratio is currently 18.34%.

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.