RLI Corp. $RLI Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of RLI Corp. (NYSE:RLI) by 8.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 274,777 shares of the insurance provider’s stock after buying an additional 20,438 shares during the quarter. Principal Financial Group Inc.’s holdings in RLI were worth $17,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of RLI by 17.8% in the 3rd quarter. UMB Bank n.a. now owns 2,246 shares of the insurance provider’s stock valued at $146,000 after acquiring an additional 339 shares during the period. Winnow Wealth LLC purchased a new position in RLI during the 3rd quarter worth $49,000. AlphaQuest LLC acquired a new position in RLI in the third quarter valued at $43,000. Arizona State Retirement System raised its holdings in shares of RLI by 1.4% in the third quarter. Arizona State Retirement System now owns 24,441 shares of the insurance provider’s stock valued at $1,594,000 after buying an additional 337 shares during the last quarter. Finally, Compass Wealth Management LLC acquired a new stake in shares of RLI during the third quarter worth about $291,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Stock Down 0.4%

RLI stock opened at $61.73 on Monday. The stock’s 50 day moving average price is $61.74 and its 200 day moving average price is $63.57. RLI Corp. has a 1-year low of $55.80 and a 1-year high of $81.79. The company has a market cap of $5.67 billion, a PE ratio of 14.16 and a beta of 0.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.32 and a quick ratio of 0.35.

RLI (NYSE:RLI) last released its earnings results on Wednesday, January 21st. The insurance provider reported $0.94 EPS for the quarter, beating 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 return on equity of 18.67% and a net margin of 21.43%.During the same quarter last year, the company earned $0.41 earnings per share. On average, sell-side analysts predict that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 28th were paid a $0.16 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. RLI’s dividend payout ratio (DPR) is 14.68%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at RLI

In related news, CEO Craig W. Kliethermes purchased 5,000 shares of RLI stock in a transaction dated Friday, January 23rd. The stock was bought at an average cost of $57.45 per share, for a total transaction of $287,250.00. Following the transaction, the chief executive officer owned 143,990 shares in the company, valued at approximately $8,272,225.50. The trade was a 3.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jennifer L. Klobnak purchased 2,000 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were purchased at an average cost of $57.99 per share, for a total transaction of $115,980.00. Following the purchase, the chief operating officer directly owned 100,318 shares in the company, valued at approximately $5,817,440.82. This represents 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 insiders.

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.