Impact Partnership Wealth LLC Purchases New Holdings in RLI Corp. $RLI

Impact Partnership Wealth LLC purchased a new stake in shares of RLI Corp. (NYSE:RLI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,103 shares of the insurance provider’s stock, valued at approximately $646,000.

Several other hedge funds also recently added to or reduced their stakes in RLI. Royal Bank of Canada grew its holdings in RLI by 115.1% during the 1st quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider’s stock valued at $4,529,000 after purchasing an additional 30,170 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in RLI by 110.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider’s stock valued at $14,902,000 after purchasing an additional 97,501 shares during the last quarter. Empowered Funds LLC grew its holdings in RLI by 472.3% during the 1st quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider’s stock valued at $2,344,000 after purchasing an additional 24,079 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in RLI by 46.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 493 shares during the last quarter. Finally, Amundi grew its holdings in RLI by 16,550.0% during the 2nd quarter. Amundi now owns 23,976 shares of the insurance provider’s stock valued at $1,689,000 after purchasing an additional 23,832 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors.

Insider Activity

In other RLI news, Director David B. Duclos acquired 2,500 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were purchased at an average cost of $51.99 per share, for a total transaction of $129,975.00. Following the completion of the purchase, the director owned 9,780 shares in the company, valued at approximately $508,462.20. This trade represents a 34.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jennifer L. Klobnak acquired 2,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average price of $52.72 per share, for a total transaction of $105,440.00. Following the completion of the purchase, the chief operating officer owned 104,318 shares of the company’s stock, valued at approximately $5,499,644.96. This represents a 1.95% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 13,500 shares of company stock worth $706,255. Corporate insiders own 2.39% of the company’s stock.

RLI Stock Performance

NYSE RLI opened at $50.03 on Friday. The firm’s 50 day moving average price is $54.54 and its 200-day moving average price is $59.32. RLI Corp. has a 52-week low of $47.26 and a 52-week high of $77.24. The company has a market cap of $4.60 billion, a PE ratio of 11.69 and a beta of 0.42.

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

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.18 per share. This is a boost from RLI’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, May 29th. RLI’s payout ratio is 14.95%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Zacks Research upgraded shares of RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Keefe, Bruyette & Woods upgraded shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded shares of RLI from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. 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 research note on Thursday, April 9th. Finally, Weiss Ratings downgraded shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, RLI currently has a consensus rating of “Hold” and an average price target of $61.50.

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.