Strs Ohio Decreases Stake in RLI Corp. $RLI

Strs Ohio lessened its stake in shares of RLI Corp. (NYSE:RLI) by 92.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,956 shares of the insurance provider’s stock after selling 24,168 shares during the period. Strs Ohio’s holdings in RLI were worth $128,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of RLI in the 2nd quarter valued at $221,000. Equitable Trust Co. lifted its position in RLI by 60.0% during the second quarter. Equitable Trust Co. now owns 13,013 shares of the insurance provider’s stock valued at $940,000 after purchasing an additional 4,880 shares during the period. Mutual of America Capital Management LLC lifted its position in RLI by 228.4% during the second quarter. Mutual of America Capital Management LLC now owns 140,971 shares of the insurance provider’s stock valued at $10,181,000 after purchasing an additional 98,049 shares during the period. AGF Management Ltd. boosted its holdings in RLI by 12.4% in the second quarter. AGF Management Ltd. now owns 39,948 shares of the insurance provider’s stock valued at $2,885,000 after purchasing an additional 4,419 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in RLI by 222.1% during the 2nd quarter. Hsbc Holdings PLC now owns 36,461 shares of the insurance provider’s stock worth $2,613,000 after purchasing an additional 25,140 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

Insider Activity

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

RLI Price Performance

RLI stock opened at $59.65 on Wednesday. The stock has a market capitalization of $5.48 billion, a P/E ratio of 13.68 and a beta of 0.53. The company’s fifty day moving average price is $61.84 and its 200 day moving average price is $63.74. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.32. RLI Corp. has a 1 year low of $55.80 and a 1 year high of $81.79.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, beating 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 business had revenue of $465.69 million for the quarter, compared to the consensus estimate of $447.53 million. During the same period last year, the firm posted $0.41 earnings per share. As a group, equities research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 28th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.1%. RLI’s dividend payout ratio (DPR) is currently 14.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a report on Tuesday, January 6th. Truist Financial set a $58.00 price target on RLI in a report on Friday, January 23rd. Weiss Ratings restated a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. Zacks Research lowered shares of RLI from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Finally, Wells Fargo & Company set a $59.00 target price on shares of RLI and gave the company an “equal weight” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $65.20.

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.