Sei Investments Co. Buys 63,857 Shares of RLI Corp. $RLI

Sei Investments Co. grew its stake in RLI Corp. (NYSE:RLI) by 24.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 320,071 shares of the insurance provider’s stock after purchasing an additional 63,857 shares during the period. Sei Investments Co. owned about 0.35% of RLI worth $18,258,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in RLI by 94.4% during the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 201 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake 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 during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of RLI during the fourth quarter worth $43,000. IFP Advisors Inc increased its holdings in shares of RLI by 85.9% during the fourth quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock worth $44,000 after buying an additional 316 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of RLI during the third quarter worth $47,000. 77.89% of the stock is owned by institutional investors.

RLI Stock Up 0.7%

Shares of NYSE:RLI opened at $65.58 on Thursday. The firm has a market cap of $6.02 billion, a P/E ratio of 13.78 and a beta of 0.38. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $69.19. The business has a fifty day simple moving average of $56.70 and a 200 day simple moving average of $57.46.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. The firm had revenue of $575.57 million for the quarter, compared to analyst estimates of $568.70 million. RLI had a return on equity of 17.61% and a net margin of 22.22%.The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 EPS. As a group, equities research analysts expect that RLI Corp. will post 2.85 EPS for the current year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were issued a $0.18 dividend. The ex-dividend date was Friday, May 29th. This is a boost from RLI’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.1%. RLI’s dividend payout ratio (DPR) is currently 15.13%.

Analysts Set New Price Targets

RLI has been the topic of several recent research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $74.00 price objective (up from $70.00) on shares of RLI in a report on Tuesday. Wells Fargo & Company downgraded RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 target price for the company. in a research report on Wednesday. UBS Group set a $74.00 price target on RLI in a research note on Tuesday. Weiss Ratings cut RLI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Finally, Wall Street Zen downgraded RLI from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, RLI has an average rating of “Reduce” and a consensus price target of $63.00.

Insider Activity

In other news, COO Jennifer L. Klobnak purchased 2,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average price of $52.72 per share, for a total transaction of $105,440.00. Following the transaction, the chief operating officer owned 104,318 shares of the company’s stock, valued at approximately $5,499,644.96. This trade 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, CEO Craig W. Kliethermes acquired 2,000 shares of RLI stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average cost of $52.00 per share, for a total transaction of $104,000.00. Following the completion of the purchase, the chief executive officer owned 150,990 shares in the company, valued at approximately $7,851,480. The trade was a 1.34% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 16,500 shares of company stock worth $858,955. 2.39% of the stock is owned by company insiders.

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.