Sanctuary Advisors LLC Acquires Shares of 20,299 RLI Corp. $RLI

Sanctuary Advisors LLC acquired a new position in RLI Corp. (NYSE:RLI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,299 shares of the insurance provider’s stock, valued at approximately $1,199,000.

Several other large investors also recently made changes to their positions in RLI. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of RLI in the second quarter valued at $7,765,000. Bank of Nova Scotia acquired a new position in RLI during the 2nd quarter worth about $426,000. Commerce Bank bought a new stake in RLI during the 2nd quarter worth about $464,000. Northwestern Mutual Wealth Management Co. bought a new stake in RLI during the 2nd quarter worth about $777,000. Finally, Callan Family Office LLC acquired a new stake in RLI in the 2nd quarter valued at about $4,776,000. Institutional investors own 77.89% of the company’s stock.

Insider Buying and Selling

In other RLI news, Director Clark C. Kellogg bought 3,000 shares of the stock in a transaction on Monday, June 1st. The stock was purchased at an average price of $50.90 per share, with a total value of $152,700.00. Following the acquisition, the director owned 4,502 shares of the company’s stock, valued at approximately $229,151.80. The trade was a 199.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.39% of the company’s stock.

RLI Trading Down 1.1%

RLI stock opened at $64.18 on Friday. RLI Corp. has a 1 year low of $47.26 and a 1 year high of $68.46. The company has a market cap of $5.89 billion, a PE ratio of 13.48 and a beta of 0.38. The company’s 50-day moving average is $61.46 and its two-hundred day moving average is $58.13.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. RLI had a net margin of 22.22% and a return on equity of 17.61%. The company had revenue of $575.57 million for the quarter, compared to analyst estimates of $568.70 million. During the same quarter last year, the firm earned $0.82 EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Research analysts forecast that RLI Corp. will post 2.88 EPS for the current year.

RLI Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RLI shares. Wells Fargo & Company downgraded shares of RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 target price for the company. in a research note on Wednesday, July 29th. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $74.00 price target (up from $70.00) on shares of RLI in a report on Tuesday, July 28th. Jefferies Financial Group cut shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 price objective for the company. in a research report on Tuesday. Finally, Weiss Ratings raised RLI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $63.20.

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.