RLI Corp. $RLI Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC boosted its position in RLI Corp. (NYSE:RLI) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 536,366 shares of the insurance provider’s stock after purchasing an additional 20,547 shares during the quarter. ProShare Advisors LLC owned about 0.58% of RLI worth $34,317,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in shares of RLI by 94.4% in the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 201 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of RLI by 156.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock worth $30,000 after buying an additional 283 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of RLI by 72.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock worth $40,000 after buying an additional 259 shares during the period. AlphaQuest LLC bought a new position in RLI in the 3rd quarter worth approximately $43,000. Finally, Eagle Bay Advisors LLC bought a new position in RLI in the 4th quarter worth approximately $43,000. 77.89% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other RLI news, COO Jennifer L. Klobnak purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of $53.42 per share, with a total value of $106,840.00. Following the acquisition, the chief operating officer owned 102,318 shares of the company’s stock, valued at $5,465,827.56. The trade was a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.39% of the company’s stock.

Wall Street Analysts Forecast Growth

RLI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of RLI in a research note on Thursday, April 2nd. Citizens Jmp reissued a “market perform” rating on shares of RLI in a report on Friday, January 23rd. Wells Fargo & Company cut their price objective 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, Truist Financial set a $58.00 price objective on shares of RLI in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, RLI has a consensus rating of “Hold” and an average target price of $61.50.

RLI Price Performance

RLI opened at $52.63 on Thursday. The business has a 50 day moving average price of $55.79 and a two-hundred day moving average price of $59.72. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 12.30 and a beta of 0.42. RLI Corp. has a 1-year low of $47.26 and a 1-year high of $77.24.

RLI (NYSE:RLI) last issued 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 company had revenue of $423.87 million for the quarter, compared to analysts’ expectations of $564.47 million. RLI had a return on equity of 17.72% and a net margin of 20.81%.The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.92 EPS. Equities analysts expect that RLI Corp. will post 2.7 EPS for the current fiscal year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.4%. This is a boost from RLI’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, May 29th. RLI’s dividend payout ratio (DPR) is presently 14.95%.

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.