Pacer Advisors Inc. Increases Stock Position in RLI Corp. $RLI

Pacer Advisors Inc. grew its holdings in shares of RLI Corp. (NYSE:RLI) by 358.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,714 shares of the insurance provider’s stock after purchasing an additional 13,848 shares during the period. Pacer Advisors Inc.’s holdings in RLI were worth $1,155,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Allianz Asset Management GmbH grew its holdings in RLI by 2.3% during the second quarter. Allianz Asset Management GmbH now owns 7,104 shares of the insurance provider’s stock worth $513,000 after acquiring an additional 163 shares during the period. Signaturefd LLC grew its stake in shares of RLI by 16.0% during the 2nd quarter. Signaturefd LLC now owns 1,240 shares of the insurance provider’s stock worth $90,000 after purchasing an additional 171 shares during the period. Vista Finance LLC increased its holdings in shares of RLI by 4.0% in the 2nd quarter. Vista Finance LLC now owns 4,655 shares of the insurance provider’s stock valued at $336,000 after purchasing an additional 181 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of RLI by 6.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,341 shares of the insurance provider’s stock valued at $241,000 after purchasing an additional 195 shares in the last quarter. Finally, Brookstone Capital Management lifted its stake in shares of RLI by 5.6% in the second quarter. Brookstone Capital Management now owns 3,876 shares of the insurance provider’s stock valued at $280,000 after purchasing an additional 207 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Stock Down 0.9%

Shares of NYSE:RLI opened at $63.99 on Friday. The stock’s 50-day moving average price is $62.96 and its two-hundred day moving average price is $65.78. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.05. RLI Corp. has a 12-month low of $57.75 and a 12-month high of $83.20. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 16.80 and a beta of 0.56.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.21. RLI had a net margin of 19.02% and a return on equity of 16.51%. The company had revenue of $509.26 million for the quarter, compared to the consensus estimate of $444.75 million. During the same quarter last year, the firm posted $1.31 earnings per share. On average, research analysts forecast that RLI Corp. will post 3.08 EPS for the current year.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 28th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, November 28th. RLI’s dividend payout ratio (DPR) is 16.80%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RLI shares. Truist Financial set a $62.00 target price on shares of RLI and gave the stock a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, RLI currently has an average rating of “Hold” and a consensus target price of $72.80.

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.