Erste Asset Management GmbH Sells 31,658 Shares of RLI Corp. $RLI

Erste Asset Management GmbH lowered its stake in RLI Corp. (NYSE:RLI) by 32.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,446 shares of the insurance provider’s stock after selling 31,658 shares during the quarter. Erste Asset Management GmbH owned about 0.07% of RLI worth $4,291,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Xponance Inc. increased its position in shares of RLI by 4.4% during the third quarter. Xponance Inc. now owns 10,159 shares of the insurance provider’s stock worth $663,000 after acquiring an additional 428 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in RLI in the 3rd quarter worth $522,000. Parr Mcknight Wealth Management Group LLC increased its holdings in RLI by 20.7% during the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 19,906 shares of the insurance provider’s stock worth $1,298,000 after purchasing an additional 3,412 shares in the last quarter. Equitable Trust Co. raised its stake in shares of RLI by 24.1% in the 3rd quarter. Equitable Trust Co. now owns 16,145 shares of the insurance provider’s stock valued at $1,053,000 after purchasing an additional 3,132 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of RLI by 6.2% in the third quarter. Ameritas Investment Partners Inc. now owns 17,214 shares of the insurance provider’s stock valued at $1,123,000 after purchasing an additional 999 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Insider Buying and Selling

In related news, CEO Craig W. Kliethermes acquired 5,000 shares of RLI stock in a transaction on Friday, January 23rd. The stock was purchased at an average cost of $57.45 per share, with a total value of $287,250.00. Following the completion of the transaction, the chief executive officer directly owned 143,990 shares in the company, valued at $8,272,225.50. This trade represents a 3.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer L. Klobnak acquired 2,000 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was bought at an average cost of $57.99 per share, for a total transaction of $115,980.00. Following the completion of the transaction, the chief operating officer directly owned 100,318 shares of the company’s stock, valued at approximately $5,817,440.82. This trade represents a 2.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RLI shares. Truist Financial set a $58.00 price objective on RLI in a report on Friday, January 23rd. Jefferies Financial Group raised RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target for the company in a research report on Friday, January 23rd. Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Wells Fargo & Company set a $59.00 price objective on shares of RLI and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, Citizens Jmp restated a “market perform” rating on shares of RLI in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $65.20.

RLI Price Performance

Shares of RLI stock opened at $62.41 on Friday. The company has a fifty day moving average price of $61.05 and a two-hundred day moving average price of $63.03. RLI Corp. has a one year low of $55.80 and a one year high of $81.79. The stock has a market cap of $5.74 billion, a P/E ratio of 14.31 and a beta of 0.53.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.18. RLI had a net margin of 21.43% and a return on equity of 18.67%. The company had revenue of $465.69 million for the quarter, compared to analyst estimates of $447.53 million. During the same period in the previous year, the business earned $0.41 EPS. As a group, equities research analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.16 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.64 annualized dividend and a yield of 1.0%. RLI’s dividend payout ratio is currently 14.68%.

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.