11,086 Shares in RLI Corp. $RLI Bought by State of Wyoming

State of Wyoming acquired a new position in RLI Corp. (NYSE:RLI) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 11,086 shares of the insurance provider’s stock, valued at approximately $655,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in shares of RLI by 94.4% during the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 201 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of RLI by 156.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 283 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of RLI by 85.9% in the 4th quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 316 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of RLI in the third quarter valued at about $47,000. Finally, Versant Capital Management Inc lifted its stake in shares of RLI by 28.5% in the second quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

Insider Buying and Selling

In related news, Director David B. Duclos acquired 2,500 shares of RLI stock in a transaction dated Thursday, May 28th. The shares were acquired at an average cost of $51.99 per share, for a total transaction of $129,975.00. Following the completion of the transaction, the director directly owned 9,780 shares of the company’s stock, valued at $508,462.20. The trade was a 34.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Clark C. Kellogg acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the purchase, the director owned 4,502 shares of the company’s stock, valued at approximately $229,151.80. The trade was a 199.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 16,500 shares of company stock worth $858,955. 2.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RLI has been the topic of a number of research analyst reports. UBS Group set a $74.00 price objective on shares of RLI in a report on Tuesday, July 28th. Wells Fargo & Company downgraded shares of RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 price target for the company. in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings raised RLI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 price target (up from $70.00) on shares of RLI in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, RLI currently has an average rating of “Hold” and a consensus price target of $63.00.

RLI Price Performance

RLI stock opened at $63.80 on Monday. The company’s 50 day simple moving average is $59.42 and its 200-day simple moving average is $57.79. The firm has a market capitalization of $5.86 billion, a PE ratio of 13.40 and a beta of 0.38. RLI Corp. has a 12 month low of $47.26 and a 12 month high of $69.19.

RLI (NYSE:RLI) last issued its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. RLI had a net margin of 22.22% and a return on equity of 17.61%. The business had revenue of $575.57 million during the quarter, compared to analysts’ expectations of $568.70 million. During the same period last year, the company posted $0.82 EPS. The company’s revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts anticipate that RLI Corp. will post 2.88 earnings per share for the current year.

RLI Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, August 31st. RLI’s dividend payout ratio is 15.13%.

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.