California Public Employees Retirement System Has $11.49 Million Stake in RLI Corp. $RLI

California Public Employees Retirement System trimmed its stake in RLI Corp. (NYSE:RLI) by 8.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 201,391 shares of the insurance provider’s stock after selling 18,766 shares during the period. California Public Employees Retirement System’s holdings in RLI were worth $11,487,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. UBS Group AG boosted its stake in shares of RLI by 8.7% in the 4th quarter. UBS Group AG now owns 607,176 shares of the insurance provider’s stock valued at $38,847,000 after purchasing an additional 48,563 shares in the last quarter. SG Americas Securities LLC increased its position in shares of RLI by 1,030.2% during the 4th quarter. SG Americas Securities LLC now owns 34,009 shares of the insurance provider’s stock worth $2,176,000 after purchasing an additional 31,000 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in RLI by 39.8% in the third quarter. Tudor Investment Corp ET AL now owns 34,879 shares of the insurance provider’s stock valued at $2,275,000 after buying an additional 9,932 shares in the last quarter. Vanguard Group Inc. boosted 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 valued at $604,542,000 after buying an additional 310,857 shares in the last quarter. Finally, Chase Investment Counsel Corp bought a new stake in RLI during the fourth quarter worth about $1,535,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen lowered shares of RLI from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Weiss Ratings lowered RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Wells Fargo & Company raised their price target on RLI from $55.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods lifted their price objective on RLI from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Finally, Zacks Research raised RLI from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, RLI presently has an average rating of “Hold” and an average target price of $60.50.

RLI Price Performance

Shares of RLI stock opened at $61.92 on Friday. RLI Corp. has a 1 year low of $47.26 and a 1 year high of $69.19. The firm’s 50 day moving average is $55.96 and its 200-day moving average is $57.40. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 13.01 and a beta of 0.38. The company has a current ratio of 0.35, a quick ratio of 0.37 and a debt-to-equity ratio of 0.17.

RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. RLI had a net margin of 22.22% and a return on equity of 17.61%. The business had revenue of $575.57 million during the quarter, compared to analyst estimates of $568.70 million. During the same quarter last year, the business posted $0.82 earnings per share. RLI’s revenue for the quarter was up 15.2% compared to the same quarter last year. Sell-side analysts forecast that RLI Corp. will post 2.75 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 29th. This is a positive change from RLI’s previous quarterly dividend of $0.16. RLI’s dividend payout ratio is 16.82%.

Insider Transactions at RLI

In other news, COO Jennifer L. Klobnak purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average price of $52.72 per share, with a total value of $105,440.00. Following the completion of the purchase, the chief operating officer directly owned 104,318 shares of the company’s stock, valued at $5,499,644.96. The trade was a 1.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Craig W. Kliethermes purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of $52.00 per share, for a total transaction of $104,000.00. Following the acquisition, the chief executive officer owned 150,990 shares of the company’s stock, valued at $7,851,480. The trade was a 1.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 16,500 shares of company stock valued at $858,955 over the last quarter. Corporate insiders own 2.39% of the company’s stock.

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.