Pacer Advisors Inc. Boosts Stock Position in RLI Corp. $RLI

Pacer Advisors Inc. grew its holdings in shares of RLI Corp. (NYSE:RLI) by 358.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,714 shares of the insurance provider’s stock after buying an additional 13,848 shares during the period. Pacer Advisors Inc.’s holdings in RLI were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in RLI by 100.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 778 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 389 shares during the last quarter. Vident Advisory LLC increased its stake in RLI by 108.8% in the first quarter. Vident Advisory LLC now owns 12,411 shares of the insurance provider’s stock valued at $997,000 after purchasing an additional 6,468 shares during the last quarter. Royal Bank of Canada raised its holdings in RLI by 115.1% during the first quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider’s stock worth $4,529,000 after purchasing an additional 30,170 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its position in shares of RLI by 123.7% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 17,944 shares of the insurance provider’s stock worth $1,442,000 after buying an additional 9,922 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of RLI by 127.8% in the 1st quarter. AQR Capital Management LLC now owns 104,555 shares of the insurance provider’s stock valued at $8,353,000 after buying an additional 58,650 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RLI shares. Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. Truist Financial set a $62.00 target price on RLI and gave the stock a “hold” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $72.80.

RLI Stock Down 0.9%

RLI opened at $63.99 on Friday. RLI Corp. has a 52 week low of $57.75 and a 52 week high of $83.20. The business has a 50 day moving average price of $62.96 and a two-hundred day moving average price of $65.78. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.05. The company has a market cap of $5.88 billion, a PE ratio of 16.80 and a beta of 0.56.

RLI (NYSE:RLI) last released its earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The business had revenue of $509.26 million for the quarter, compared to analyst estimates of $444.75 million. During the same quarter in the previous year, the company posted $1.31 earnings per share. As a group, research analysts anticipate that RLI Corp. will post 3.08 EPS for the current year.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 28th were given a dividend of $0.16 per share. The ex-dividend date was Friday, November 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. RLI’s dividend payout ratio is presently 16.80%.

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.