Van Berkom & Associates Inc. Has $80.20 Million Stock Position in RLI Corp. $RLI

Van Berkom & Associates Inc. increased its holdings in shares of RLI Corp. (NYSE:RLI) by 14.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,229,649 shares of the insurance provider’s stock after acquiring an additional 156,241 shares during the quarter. RLI makes up 2.3% of Van Berkom & Associates Inc.’s portfolio, making the stock its 15th biggest position. Van Berkom & Associates Inc.’s holdings in RLI were worth $80,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC bought a new stake in shares of RLI in the third quarter worth about $26,000. Caitong International Asset Management Co. Ltd grew its position in shares of RLI by 7,300.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 365 shares during the period. Clarity Asset Management Inc. bought a new stake in RLI during the 2nd quarter worth approximately $28,000. Chung Wu Investment Group LLC bought a new stake in RLI during the 2nd quarter worth approximately $29,000. Finally, Hantz Financial Services Inc. raised its holdings in RLI by 3,645.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock worth $30,000 after buying an additional 401 shares during the period. 77.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RLI

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

RLI Trading Up 1.5%

RLI stock opened at $59.65 on Wednesday. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 13.68 and a beta of 0.53. The firm has a 50-day moving average of $61.84 and a 200-day moving average of $63.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.32 and a quick ratio of 0.35. RLI Corp. has a one year low of $55.80 and a one year high of $81.79.

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

RLI Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, November 28th. RLI’s dividend payout ratio is presently 14.68%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RLI. Jefferies Financial Group upgraded shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target for the company in a report on Friday, January 23rd. Truist Financial set a $58.00 price objective on shares of RLI in a research report on Friday, January 23rd. Zacks Research cut RLI from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Wells Fargo & Company set a $59.00 price target on RLI and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $65.20.

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.