Virtu Financial LLC Purchases Shares of 11,532 RLI Corp. $RLI

Virtu Financial LLC acquired a new position in shares of RLI Corp. (NYSE:RLI) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 11,532 shares of the insurance provider’s stock, valued at approximately $738,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in shares of RLI by 94.4% in the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 201 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of RLI by 156.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 283 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in RLI by 72.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 259 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in RLI during the 4th quarter valued at about $43,000. Finally, IFP Advisors Inc boosted its position in RLI by 85.9% in the fourth quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock valued at $44,000 after buying an additional 316 shares in the last quarter. 77.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on RLI shares. Wall Street Zen cut shares of RLI from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Wells Fargo & Company cut their target price on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Zacks Research raised RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Keefe, Bruyette & Woods upgraded RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings cut RLI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, RLI currently has a consensus rating of “Hold” and a consensus target price of $61.50.

Insider Activity at RLI

In related news, Director Clark C. Kellogg purchased 3,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $50.90 per share, with a total value of $152,700.00. Following the completion of the acquisition, the director directly owned 4,502 shares in the company, valued at approximately $229,151.80. This trade represents a 199.73% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David B. Duclos acquired 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was bought at an average price of $51.99 per share, with a total value of $129,975.00. Following the transaction, the director directly owned 9,780 shares in the company, valued at $508,462.20. The trade was a 34.34% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 16,500 shares of company stock valued at $858,955 over the last three months. 2.39% of the stock is owned by company insiders.

RLI Stock Down 0.6%

RLI stock opened at $52.79 on Tuesday. The stock has a 50-day simple moving average of $52.90 and a 200 day simple moving average of $58.11. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 12.34 and a beta of 0.41. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $74.00.

RLI (NYSE:RLI) last issued its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. As a group, sell-side analysts anticipate that RLI Corp. will post 2.75 EPS for the current year.

RLI Increases Dividend

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

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.