Van Hulzen Asset Management LLC Grows Position in RLI Corp. $RLI

Van Hulzen Asset Management LLC lifted its holdings in shares of RLI Corp. (NYSE:RLI) by 98.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,046 shares of the insurance provider’s stock after purchasing an additional 14,886 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in RLI were worth $1,922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of RLI by 3.4% during the 4th 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 during the period. State Street Corp boosted its holdings in RLI by 3.3% during the 3rd quarter. State Street Corp now owns 8,750,315 shares of the insurance provider’s stock valued at $570,696,000 after acquiring an additional 279,983 shares during the period. JPMorgan Chase & Co. boosted its holdings in RLI by 15.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,422,596 shares of the insurance provider’s stock valued at $92,782,000 after acquiring an additional 191,020 shares during the period. Van Berkom & Associates Inc. boosted its holdings in RLI by 3.2% during the 4th quarter. Van Berkom & Associates Inc. now owns 1,268,778 shares of the insurance provider’s stock valued at $81,176,000 after acquiring an additional 39,129 shares during the period. Finally, Wasatch Advisors LP purchased a new position in RLI during the 2nd quarter valued at about $84,608,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Stock Performance

Shares of RLI opened at $53.02 on Friday. The stock has a 50-day simple moving average of $55.64 and a 200-day simple moving average of $59.67. The stock has a market capitalization of $4.87 billion, a PE ratio of 12.39 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 announced its quarterly earnings data 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 business had revenue of $423.87 million during 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 business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. Analysts predict that RLI Corp. will post 2.7 EPS for the current year.

RLI Increases Dividend

The business 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 $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, May 29th. This is a boost from RLI’s previous quarterly dividend of $0.16. RLI’s dividend payout ratio (DPR) is 14.95%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 target price for the company in a report on Friday, January 23rd. Zacks Research upgraded RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Wells Fargo & Company lowered their target price on RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods upgraded RLI from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of RLI in a report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, RLI presently has an average rating of “Hold” and a consensus target price of $61.50.

Insider Activity

In related news, COO Jennifer L. Klobnak acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average price of $53.42 per share, for a total transaction of $106,840.00. Following the purchase, the chief operating officer owned 102,318 shares of the company’s stock, valued at $5,465,827.56. This represents a 1.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.39% of the company’s stock.

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.