GSA Capital Partners LLP Invests $748,000 in RLI Corp. $RLI

GSA Capital Partners LLP bought a new stake in shares of RLI Corp. (NYSE:RLI) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 12,668 shares of the insurance provider’s stock, valued at approximately $748,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in RLI by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock worth $604,542,000 after purchasing an additional 310,857 shares in the last quarter. State Street Corp lifted its stake in RLI by 1.4% during the fourth quarter. State Street Corp now owns 8,875,002 shares of the insurance provider’s stock worth $567,823,000 after purchasing an additional 124,687 shares during the period. Wasatch Advisors LP boosted its holdings in RLI by 40.7% during the second quarter. Wasatch Advisors LP now owns 3,631,273 shares of the insurance provider’s stock valued at $214,499,000 after purchasing an additional 1,051,318 shares in the last quarter. Geode Capital Management LLC boosted its holdings in RLI by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 2,191,891 shares of the insurance provider’s stock valued at $140,260,000 after purchasing an additional 67,025 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in RLI by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,920,823 shares of the insurance provider’s stock valued at $109,567,000 after purchasing an additional 21,299 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

RLI Stock Performance

NYSE RLI opened at $64.44 on Thursday. The stock has a market capitalization of $5.91 billion, a P/E ratio of 13.54 and a beta of 0.38. RLI Corp. has a 52 week low of $47.26 and a 52 week high of $69.19. The stock has a fifty day moving average of $60.07 and a 200-day moving average of $57.92.

RLI (NYSE:RLI) last issued its quarterly 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. The business had revenue of $575.57 million for the quarter, compared to analyst estimates of $568.70 million. RLI had a return on equity of 17.61% and a net margin of 22.22%.The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Equities research analysts forecast that RLI Corp. will post 2.88 earnings per share for the current fiscal year.

RLI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. RLI’s payout ratio is currently 15.13%.

Insider Buying and Selling at RLI

In other RLI news, Director David B. Duclos bought 2,500 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $51.99 per share, for a total transaction of $129,975.00. Following the transaction, the director owned 9,780 shares in the company, valued at approximately $508,462.20. This trade represents a 34.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Clark C. Kellogg bought 3,000 shares of RLI stock in a transaction dated Monday, June 1st. The stock was acquired at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the purchase, the director directly owned 4,502 shares in the company, valued at approximately $229,151.80. The trade was a 199.73% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 9,500 shares of company stock valued at $492,115. 2.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $74.00 target price (up from $70.00) on shares of RLI in a report on Tuesday, July 28th. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded RLI from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. UBS Group set a $74.00 price objective on RLI in a report on Tuesday, July 28th. Finally, Wells Fargo & Company lowered 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. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.00.

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.