RLI Corp. $RLI Holdings Raised by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its stake in RLI Corp. (NYSE:RLI) by 37.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,060 shares of the insurance provider’s stock after purchasing an additional 10,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in RLI were worth $2,248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of RLI by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock worth $604,542,000 after acquiring an additional 310,857 shares during the period. State Street Corp increased its stake in shares of RLI by 1.4% during the fourth quarter. State Street Corp now owns 8,875,002 shares of the insurance provider’s stock valued at $567,823,000 after acquiring an additional 124,687 shares during the period. Wasatch Advisors LP increased its stake in shares of RLI by 33.1% during the first quarter. Wasatch Advisors LP now owns 2,579,955 shares of the insurance provider’s stock valued at $147,161,000 after acquiring an additional 641,769 shares during the period. Geode Capital Management LLC raised its holdings in RLI by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 2,191,891 shares of the insurance provider’s stock worth $140,260,000 after purchasing an additional 67,025 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in RLI by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,920,823 shares of the insurance provider’s stock worth $109,567,000 after purchasing an additional 21,299 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, COO Jennifer L. Klobnak bought 2,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were bought at an average cost of $52.72 per share, with a total value of $105,440.00. Following the completion of the transaction, the chief operating officer directly 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David B. Duclos bought 2,500 shares of RLI stock in a transaction dated Thursday, May 28th. The shares were bought at an average cost of $51.99 per share, with a total value of $129,975.00. Following the completion of the acquisition, the director owned 9,780 shares of the company’s stock, valued at $508,462.20. The trade was a 34.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 16,500 shares of company stock valued at $858,955. 2.39% of the stock is owned by insiders.

RLI Price Performance

RLI stock opened at $63.80 on Monday. RLI Corp. has a 12 month low of $47.26 and a 12 month high of $69.19. The firm has a market cap of $5.86 billion, a PE ratio of 13.40 and a beta of 0.38. The firm has a 50 day simple moving average of $59.42 and a 200 day simple moving average of $57.79.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. The firm had revenue of $575.57 million during the quarter, compared to analysts’ expectations of $568.70 million. RLI had a net margin of 22.22% and a return on equity of 17.61%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. As a group, sell-side analysts expect that RLI Corp. will post 2.88 earnings per share for the current year.

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. RLI’s dividend payout ratio (DPR) is currently 15.13%.

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.