MQS Management LLC Acquires 8,053 Shares of RLI Corp. $RLI

MQS Management LLC grew its stake in shares of RLI Corp. (NYSE:RLI) by 201.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,058 shares of the insurance provider’s stock after buying an additional 8,053 shares during the period. MQS Management LLC’s holdings in RLI were worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in RLI. Allianz Asset Management GmbH raised its stake in shares of RLI by 2.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 7,104 shares of the insurance provider’s stock valued at $513,000 after purchasing an additional 163 shares during the period. Vista Finance LLC grew its holdings in RLI by 4.0% during the 2nd quarter. Vista Finance LLC now owns 4,655 shares of the insurance provider’s stock valued at $336,000 after buying an additional 181 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of RLI by 6.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,341 shares of the insurance provider’s stock valued at $241,000 after buying an additional 195 shares during the period. Brookstone Capital Management lifted its holdings in shares of RLI by 5.6% in the second quarter. Brookstone Capital Management now owns 3,876 shares of the insurance provider’s stock worth $280,000 after buying an additional 207 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of RLI by 4.6% in the second quarter. Steward Partners Investment Advisory LLC now owns 4,866 shares of the insurance provider’s stock worth $351,000 after buying an additional 214 shares in the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Craig W. Kliethermes bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average price of $57.45 per share, for a total transaction of $287,250.00. Following the transaction, the chief executive officer directly owned 143,990 shares of the company’s stock, valued at $8,272,225.50. This represents a 3.60% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer L. Klobnak purchased 2,000 shares of RLI stock in a transaction on Friday, January 23rd. The shares were acquired at an average price 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. The trade was a 2.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

RLI Price Performance

Shares of NYSE:RLI opened at $62.09 on Wednesday. The company’s fifty day moving average price is $61.71 and its 200-day moving average price is $63.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.32 and a quick ratio of 0.35. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 14.24 and a beta of 0.53. RLI Corp. has a one year low of $55.80 and a one 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, topping analysts’ consensus estimates of $0.76 by $0.18. The company had revenue of $465.69 million during the quarter, compared to the consensus estimate of $447.53 million. RLI had a net margin of 21.43% and a return on equity of 18.67%. During the same period in the previous year, the firm posted $0.41 EPS. On average, equities research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, November 28th. RLI’s dividend payout ratio is presently 14.68%.

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.