RLI Corp. $RLI Stock Position Raised by Maren Capital LLC

Maren Capital LLC boosted its stake in RLI Corp. (NYSE:RLI) by 0.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,701,167 shares of the insurance provider’s stock after buying an additional 11,853 shares during the period. RLI comprises about 5.9% of Maren Capital LLC’s portfolio, making the stock its 8th biggest holding. Maren Capital LLC’s holdings in RLI were worth $108,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of RLI. Chatham Capital Group Inc. grew its position in RLI by 0.7% during the fourth quarter. Chatham Capital Group Inc. now owns 26,460 shares of the insurance provider’s stock valued at $1,693,000 after acquiring an additional 180 shares during the last quarter. Covestor Ltd grew its position in RLI by 13.0% during the fourth quarter. Covestor Ltd now owns 1,590 shares of the insurance provider’s stock valued at $102,000 after acquiring an additional 183 shares during the last quarter. Allworth Financial LP grew its position in RLI by 5.3% during the third quarter. Allworth Financial LP now owns 3,760 shares of the insurance provider’s stock valued at $245,000 after acquiring an additional 189 shares during the last quarter. Farther Finance Advisors LLC grew its position 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 acquiring an additional 201 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in RLI by 0.3% during the third quarter. Public Employees Retirement System of Ohio now owns 75,502 shares of the insurance provider’s stock valued at $4,924,000 after acquiring an additional 207 shares during the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

RLI Stock Performance

Shares of RLI stock opened at $54.39 on Monday. RLI Corp. has a 52-week low of $47.26 and a 52-week high of $74.17. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 12.71 and a beta of 0.41. The company’s 50 day moving average price is $53.50 and its 200-day moving average price is $58.52.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $564.47 million. During the same quarter last year, the business earned $0.92 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that RLI Corp. will post 2.75 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. Stockholders of record on Friday, May 29th were issued a $0.18 dividend. This is a positive change from RLI’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, May 29th. RLI’s dividend payout ratio (DPR) is 16.82%.

Insider Activity

In other news, COO Jennifer L. Klobnak bought 2,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average price of $53.42 per share, for a total transaction of $106,840.00. Following the completion of the acquisition, the chief operating officer 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Clark C. Kellogg bought 3,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was purchased at an average price of $50.90 per share, for a total transaction of $152,700.00. Following the acquisition, the director directly owned 4,502 shares of the company’s stock, valued at approximately $229,151.80. The trade was a 199.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 16,500 shares of company stock worth $858,955 over the last ninety days. Company insiders own 2.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.