LRT Capital Management LLC Sells 19,734 Shares of RLI Corp. $RLI

LRT Capital Management LLC trimmed its position in shares of RLI Corp. (NYSE:RLI) by 32.4% during the 4th quarter, HoldingsChannel reports. The fund owned 41,088 shares of the insurance provider’s stock after selling 19,734 shares during the quarter. RLI makes up approximately 2.3% of LRT Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. LRT Capital Management LLC’s holdings in RLI were worth $2,629,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in RLI. Farther Finance Advisors LLC boosted its holdings in RLI by 94.4% during 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 in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in RLI by 156.4% during the third 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. MassMutual Private Wealth & Trust FSB boosted its holdings in RLI by 72.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 259 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of RLI in the 3rd quarter worth approximately $43,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of RLI in the 4th quarter worth approximately $43,000. 77.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on RLI from $59.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Weiss Ratings downgraded RLI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Keefe, Bruyette & Woods raised RLI from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Zacks Research raised RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Wall Street Zen downgraded RLI from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.50.

Insider Activity at RLI

In related news, COO Jennifer L. Klobnak acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $53.42 per share, for a total transaction of $106,840.00. Following the transaction, the chief operating officer directly owned 102,318 shares of the company’s stock, valued at approximately $5,465,827.56. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Clark C. Kellogg acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average price of $50.90 per share, with a total value of $152,700.00. Following the transaction, the director directly owned 4,502 shares in the company, valued at $229,151.80. The trade was a 199.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 16,500 shares of company stock worth $858,955. Company insiders own 2.39% of the company’s stock.

RLI Price Performance

Shares of RLI opened at $54.39 on Friday. The business’s 50 day simple moving average is $53.50 and its 200-day simple moving average is $58.55. RLI Corp. has a one year low of $47.26 and a one year high of $74.17. The company has a market capitalization of $5.00 billion, a P/E ratio of 12.71 and a beta of 0.41.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.10. RLI had a net margin of 20.81% and a return on equity of 17.72%. The firm had revenue of $423.87 million during the quarter, compared to analysts’ expectations of $564.47 million. During the same quarter in the previous year, the company posted $0.92 EPS. RLI’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that RLI Corp. will post 2.75 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a $0.18 dividend. This is a boost from RLI’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, May 29th. This represents a $0.72 annualized dividend and a yield of 1.3%. RLI’s dividend payout ratio is presently 16.82%.

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.