RLI (NYSE:RLI) CEO Craig Kliethermes Purchases 2,000 Shares

RLI Corp. (NYSE:RLI) CEO Craig Kliethermes purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average cost of $52.00 per share, for a total transaction 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 $7,851,480. This represents a 1.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

RLI Price Performance

RLI opened at $51.53 on Friday. The stock has a market capitalization of $4.74 billion, a PE ratio of 12.04 and a beta of 0.42. The firm’s fifty day moving average price is $54.72 and its 200 day moving average price is $59.38. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $77.24.

RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.10. The firm had revenue of $423.87 million for the quarter, compared to analysts’ expectations of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. On average, equities research analysts forecast that RLI Corp. will post 2.75 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a $0.18 dividend. This is a boost from RLI’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. RLI’s dividend payout ratio is currently 14.95%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Argent Capital Management LLC boosted its position in RLI by 233.6% during the 1st quarter. Argent Capital Management LLC now owns 374,447 shares of the insurance provider’s stock valued at $21,358,000 after purchasing an additional 262,218 shares during the period. Bank of America Corp DE increased its holdings in shares of RLI by 37.0% in the 1st quarter. Bank of America Corp DE now owns 282,656 shares of the insurance provider’s stock worth $16,123,000 after acquiring an additional 76,413 shares during the period. Janus Henderson Group PLC increased its holdings in shares of RLI by 12.0% in the 1st quarter. Janus Henderson Group PLC now owns 416,647 shares of the insurance provider’s stock worth $23,765,000 after acquiring an additional 44,481 shares during the period. Amundi acquired a new stake in shares of RLI in the 1st quarter worth about $294,000. Finally, California State Teachers Retirement System increased its holdings in shares of RLI by 26.7% in the 1st quarter. California State Teachers Retirement System now owns 100,297 shares of the insurance provider’s stock worth $5,721,000 after acquiring an additional 21,136 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Zacks Research raised shares of RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Wells Fargo & Company dropped their target price on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Weiss Ratings cut shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Finally, Wall Street Zen cut shares of RLI from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, RLI currently has a consensus rating of “Hold” and a consensus price target of $61.50.

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.