AGF Management Ltd. Grows Stake in RLI Corp. $RLI

AGF Management Ltd. grew its holdings in shares of RLI Corp. (NYSE:RLI) by 22.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 48,734 shares of the insurance provider’s stock after acquiring an additional 8,786 shares during the quarter. AGF Management Ltd.’s holdings in RLI were worth $3,178,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC bought a new stake in RLI in the third quarter valued at $26,000. Caitong International Asset Management Co. Ltd lifted its position in shares of RLI by 7,300.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 365 shares during the period. Clarity Asset Management Inc. bought a new stake in shares of RLI during the 2nd quarter valued at about $28,000. Hantz Financial Services Inc. increased its position in shares of RLI by 3,645.5% during the second quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock valued at $30,000 after buying an additional 401 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in RLI in the second quarter worth about $37,000. Institutional investors own 77.89% of the company’s stock.

Insider Activity

In other news, COO Jennifer L. Klobnak purchased 2,000 shares of the stock in a transaction dated Friday, January 23rd. The shares were acquired at an average cost of $57.99 per share, for a total transaction of $115,980.00. Following the acquisition, the chief operating officer owned 100,318 shares of the company’s stock, valued at approximately $5,817,440.82. This represents a 2.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Craig W. Kliethermes acquired 5,000 shares of RLI stock in a transaction that occurred on Friday, January 23rd. The shares were purchased at an average price of $57.45 per share, with a total value of $287,250.00. Following the purchase, the chief executive officer owned 143,990 shares in the company, valued at $8,272,225.50. This represents a 3.60% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.16% of the company’s stock.

RLI Stock Performance

Shares of RLI stock opened at $60.98 on Thursday. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 13.99 and a beta of 0.53. RLI Corp. has a 52-week low of $55.80 and a 52-week high of $81.79. The company has a quick ratio of 0.35, a current ratio of 0.32 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $61.78 and its 200 day moving average is $63.72.

RLI (NYSE:RLI) last announced its earnings results 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. The business had revenue of $465.69 million for the quarter, compared to analysts’ expectations of $447.53 million. RLI had a return on equity of 18.67% and a net margin of 21.43%.During the same quarter last year, the firm earned $0.41 EPS. On average, sell-side analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 28th were issued a $0.16 dividend. 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 payout ratio is currently 14.68%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RLI shares. Truist Financial set a $58.00 price objective on RLI in a research report on Friday, January 23rd. Zacks Research lowered RLI from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Wells Fargo & Company set a $59.00 price objective on RLI and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Citizens Jmp reissued a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. Finally, Jefferies Financial Group raised shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 target price on the stock in a research report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $65.20.

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.