Quantinno Capital Management LP Has $6.12 Million Holdings in RLI Corp. $RLI

Quantinno Capital Management LP grew its stake in RLI Corp. (NYSE:RLI) by 23.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,386 shares of the insurance provider’s stock after acquiring an additional 20,554 shares during the period. Quantinno Capital Management LP owned 0.12% of RLI worth $6,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Wasatch Advisors LP acquired a new stake in shares of RLI in the second quarter valued at approximately $84,608,000. Norges Bank acquired a new position in RLI during the 4th quarter worth $66,997,000. Victory Capital Management Inc. lifted its holdings in RLI by 6,060.1% during the 4th quarter. Victory Capital Management Inc. now owns 739,709 shares of the insurance provider’s stock worth $47,327,000 after buying an additional 727,701 shares in the last quarter. First Trust Advisors LP boosted its position in RLI by 311.6% in the 1st quarter. First Trust Advisors LP now owns 688,318 shares of the insurance provider’s stock valued at $39,262,000 after buying an additional 521,096 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in RLI by 3,664.4% in the 4th quarter. Bank of Montreal Can now owns 368,384 shares of the insurance provider’s stock valued at $23,569,000 after buying an additional 358,598 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Stock Performance

Shares of NYSE RLI opened at $62.81 on Thursday. The stock has a market cap of $5.76 billion, a P/E ratio of 13.19 and a beta of 0.38. The firm has a 50 day moving average price of $57.61 and a 200 day moving average price of $57.53. RLI Corp. has a 52-week low of $47.26 and a 52-week high of $69.19.

RLI (NYSE:RLI) last posted its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.11. The company had revenue of $575.57 million for the quarter, compared to analyst estimates of $568.70 million. RLI had a net margin of 22.22% and a return on equity of 17.61%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. Analysts predict that RLI Corp. will post 2.85 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a $0.18 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from RLI’s previous quarterly dividend of $0.16. RLI’s dividend payout ratio is currently 15.13%.

Analysts Set New Price Targets

RLI has been the subject of a number of recent research reports. UBS Group set a $74.00 target price on RLI in a research report on Tuesday, July 28th. Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of RLI from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. Wells Fargo & Company lowered shares of RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 price objective on the stock. in a report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $74.00 price target (up from $70.00) on shares of RLI in a research note on Tuesday, July 28th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, RLI has an average rating of “Hold” and a consensus target price of $63.00.

Insiders Place Their Bets

In other RLI news, Director Clark C. Kellogg bought 3,000 shares of RLI stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the completion of the acquisition, the director owned 4,502 shares in the company, valued at approximately $229,151.80. The trade was a 199.73% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Craig W. Kliethermes purchased 2,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was acquired at an average price of $52.00 per share, with a total value of $104,000.00. Following the completion of the acquisition, the chief executive officer directly owned 150,990 shares of the company’s stock, valued at approximately $7,851,480. This represents a 1.34% increase in their ownership of the stock. 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 corporate insiders.

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.