Clark Kellogg Acquires 3,000 Shares of RLI (NYSE:RLI) Stock

RLI Corp. (NYSE:RLI) Director Clark Kellogg acquired 3,000 shares of RLI stock in a transaction that occurred 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 transaction, the director owned 4,502 shares of the company’s stock, valued at $229,151.80. This trade represents a 199.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

RLI Trading Up 0.8%

RLI stock opened at $51.02 on Wednesday. The firm has a 50 day moving average of $54.40 and a 200-day moving average of $59.22. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $77.07. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 11.92 and a beta of 0.41.

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 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 company had revenue of $423.87 million during the quarter, compared to the consensus estimate of $564.47 million. During the same period last year, the firm earned $0.92 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Sell-side 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. Stockholders of record on Friday, May 29th will be given a dividend of $0.18 per share. 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. This is a positive change from RLI’s previous quarterly dividend of $0.16. RLI’s payout ratio is 16.82%.

Analyst Ratings Changes

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

Institutional Trading of RLI

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in RLI by 8.0% in the 3rd quarter. Principal Financial Group Inc. now owns 274,777 shares of the insurance provider’s stock worth $17,921,000 after acquiring an additional 20,438 shares during the period. Van Berkom & Associates Inc. grew its stake in RLI by 14.6% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,229,649 shares of the insurance provider’s stock worth $80,198,000 after acquiring an additional 156,241 shares during the period. JPMorgan Chase & Co. grew its stake in RLI by 15.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,422,596 shares of the insurance provider’s stock worth $92,782,000 after acquiring an additional 191,020 shares during the period. UBS Group AG grew its stake in RLI by 8.7% in the 4th quarter. UBS Group AG now owns 607,176 shares of the insurance provider’s stock worth $38,847,000 after acquiring an additional 48,563 shares during the period. Finally, SG Americas Securities LLC grew its stake in RLI by 1,030.2% in the 4th quarter. SG Americas Securities LLC now owns 34,009 shares of the insurance provider’s stock worth $2,176,000 after acquiring an additional 31,000 shares during the period. 77.89% of the stock is owned by hedge funds and other institutional investors.

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.