Legal & General Group Plc Has $8.39 Million Stock Holdings in RLI Corp. $RLI

Legal & General Group Plc lessened its position in shares of RLI Corp. (NYSE:RLI) by 23.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,198 shares of the insurance provider’s stock after selling 40,471 shares during the quarter. Legal & General Group Plc owned about 0.14% of RLI worth $8,394,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wasatch Advisors LP acquired a new position in RLI in the second quarter valued at about $84,608,000. Two Sigma Investments LP grew its holdings in shares of RLI by 353.1% during the third quarter. Two Sigma Investments LP now owns 446,378 shares of the insurance provider’s stock worth $29,113,000 after buying an additional 347,858 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of RLI by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock worth $604,542,000 after buying an additional 310,857 shares in the last quarter. UBS Group AG grew its holdings in shares of RLI by 102.7% during the third quarter. UBS Group AG now owns 558,613 shares of the insurance provider’s stock worth $36,433,000 after buying an additional 283,083 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of RLI by 3.3% during the third quarter. State Street Corp now owns 8,750,315 shares of the insurance provider’s stock worth $570,696,000 after buying an additional 279,983 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Insiders Place Their Bets

In other RLI news, CEO Craig W. Kliethermes acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was bought at an average cost of $52.00 per share, with a total value of $104,000.00. Following the completion of the transaction, the chief executive officer directly owned 150,990 shares in the company, valued at approximately $7,851,480. This represents a 1.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Clark C. Kellogg purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $50.90 per share, with a total value of $152,700.00. Following the completion of the acquisition, the director owned 4,502 shares in the company, valued at $229,151.80. The trade was a 199.73% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 16,500 shares of company stock valued at $858,955. Corporate insiders own 2.39% of the company’s stock.

RLI Stock Up 4.1%

RLI opened at $52.43 on Friday. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $76.41. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 12.25 and a beta of 0.41. The business has a 50 day moving average of $53.86 and a 200-day moving average of $58.91.

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 return on equity of 17.72% and a net margin of 20.81%.The company had revenue of $423.87 million during the quarter, compared to analysts’ expectations of $564.47 million. During the same period last year, the firm posted $0.92 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. As a group, analysts expect that RLI Corp. will post 2.75 earnings per share for the current 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 given a $0.18 dividend. The ex-dividend date of this dividend is Friday, May 29th. This is a positive change 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%. RLI’s payout ratio is 16.82%.

Wall Street Analysts Forecast Growth

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

RLI 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.