Entropy Technologies LP Purchases Shares of 14,822 RLI Corp. $RLI

Entropy Technologies LP purchased a new stake in shares of RLI Corp. (NYSE:RLI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,822 shares of the insurance provider’s stock, valued at approximately $845,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RLI. Royal Bank of Canada boosted its stake in RLI by 115.1% during the 1st quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider’s stock valued at $4,529,000 after purchasing an additional 30,170 shares during the period. Goldman Sachs Group Inc. increased its position in RLI by 110.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider’s stock worth $14,902,000 after buying an additional 97,501 shares during the period. Empowered Funds LLC increased its position in RLI by 472.3% in the 1st quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider’s stock worth $2,344,000 after buying an additional 24,079 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of RLI by 46.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the insurance provider’s stock worth $113,000 after buying an additional 493 shares during the last quarter. Finally, Amundi lifted its holdings in shares of RLI by 16,550.0% during the second quarter. Amundi now owns 23,976 shares of the insurance provider’s stock worth $1,689,000 after buying an additional 23,832 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RLI

In other RLI news, CEO Craig W. Kliethermes purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were purchased at an average price of $52.00 per share, for a total transaction of $104,000.00. Following the completion of the purchase, the chief executive officer directly owned 150,990 shares of the company’s stock, valued at approximately $7,851,480. This represents a 1.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clark C. Kellogg purchased 3,000 shares of the stock in a transaction on Monday, June 1st. The stock was acquired at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the acquisition, the director directly owned 4,502 shares in the company, valued at approximately $229,151.80. This trade represents a 199.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 16,500 shares of company stock worth $858,955 over the last three months. 2.39% of the stock is currently owned by corporate insiders.

RLI Trading Up 1.7%

Shares of RLI stock opened at $65.15 on Wednesday. The stock has a 50 day moving average of $56.44 and a two-hundred day moving average of $57.43. RLI Corp. has a 12 month low of $47.26 and a 12 month high of $69.19. The company has a market capitalization of $5.99 billion, a P/E ratio of 13.69 and a beta of 0.38.

RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.11. The company had revenue of $575.57 million for the quarter, compared to analyst estimates of $568.70 million. RLI had a return on equity of 17.61% and a net margin of 22.22%.RLI’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. Sell-side analysts predict that RLI Corp. will post 2.8 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.1%. This is an increase from RLI’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, May 29th. RLI’s dividend payout ratio (DPR) is 15.13%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RLI. Zacks Research raised RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. UBS Group set a $74.00 target price on shares of RLI in a research note on Tuesday. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of RLI in a report on Tuesday. Weiss Ratings downgraded shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Finally, Wells Fargo & Company raised their price target on shares of RLI from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.20.

RLI 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.