RLI (NYSE:RLI) Director Purchases $129,975.00 in Stock

RLI Corp. (NYSE:RLI) Director David Duclos purchased 2,500 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were acquired at an average price of $51.99 per share, with a total value of $129,975.00. Following the completion of the acquisition, the director owned 9,780 shares of the company’s stock, valued at approximately $508,462.20. The trade was a 34.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

RLI Price Performance

Shares of RLI stock opened at $50.03 on Monday. The stock has a market cap of $4.60 billion, a P/E ratio of 11.69 and a beta of 0.41. RLI Corp. has a one year low of $47.26 and a one year high of $77.24. The stock has a fifty day moving average price of $54.54 and a 200 day moving average price of $59.30.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.73 by $0.10. The firm had revenue of $423.87 million during the quarter, compared to analysts’ expectations of $564.47 million. RLI had a return on equity of 17.72% and a net margin of 20.81%.RLI’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.92 earnings per share. Equities research analysts anticipate that RLI Corp. will post 2.75 EPS for the current year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.4%. This is an increase from RLI’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, May 29th. RLI’s dividend payout ratio (DPR) is 16.82%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RLI. Royal Bank of Canada raised its stake 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 acquiring an additional 30,170 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in RLI by 110.8% during the first quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider’s stock worth $14,902,000 after acquiring an additional 97,501 shares in the last quarter. Empowered Funds LLC raised its stake in RLI by 472.3% during the first quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider’s stock worth $2,344,000 after acquiring an additional 24,079 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in 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 acquiring an additional 493 shares in the last quarter. Finally, Amundi raised its stake in 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 acquiring an additional 23,832 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.