Nepsis Inc. Reduces Position in RLI Corp. $RLI

Nepsis Inc. lowered its stake in RLI Corp. (NYSE:RLI) by 10.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199,222 shares of the insurance provider’s stock after selling 22,272 shares during the period. RLI accounts for 4.1% of Nepsis Inc.’s holdings, making the stock its 13th biggest position. Nepsis Inc. owned 0.22% of RLI worth $12,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RLI. Royal Bank of Canada increased its position in shares of RLI by 115.1% in the 1st quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider’s stock valued at $4,529,000 after acquiring an additional 30,170 shares during the period. AQR Capital Management LLC grew its stake in RLI by 127.8% during the 1st quarter. AQR Capital Management LLC now owns 104,555 shares of the insurance provider’s stock valued at $8,353,000 after purchasing an additional 58,650 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in RLI by 110.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider’s stock valued at $14,902,000 after purchasing an additional 97,501 shares during the last quarter. Empowered Funds LLC raised its stake in shares of RLI by 472.3% in the first quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider’s stock worth $2,344,000 after purchasing an additional 24,079 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of RLI by 110.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 380,732 shares of the insurance provider’s stock worth $30,584,000 after purchasing an additional 199,614 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Trading Down 1.4%

Shares of RLI stock opened at $60.11 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 15.78 and a beta of 0.54. The stock has a 50 day simple moving average of $63.13 and a 200-day simple moving average of $65.32. RLI Corp. has a 1-year low of $57.75 and a 1-year high of $81.79.

RLI (NYSE:RLI) last released its earnings results on Monday, October 20th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.21. RLI had a net margin of 19.02% and a return on equity of 16.51%. The business had revenue of $509.26 million during the quarter, compared to analysts’ expectations of $444.75 million. During the same quarter in the previous year, the company earned $1.31 earnings per share. On average, equities research analysts expect that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 28th were issued a $0.16 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.1%. RLI’s dividend payout ratio is presently 16.80%.

Wall Street Analysts Forecast Growth

RLI has been the topic of a number of recent research reports. Truist Financial set a $62.00 target price on RLI and gave the company a “hold” rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods decreased their price objective on shares of RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Weiss Ratings reiterated 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 assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $72.00.

RLI 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.