11,532 Shares in RLI Corp. $RLI Purchased by Virtu Financial LLC

Virtu Financial LLC bought a new stake in shares of RLI Corp. (NYSE:RLI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 11,532 shares of the insurance provider’s stock, valued at approximately $738,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Chatham Capital Group Inc. increased its position in RLI by 0.7% in the 4th quarter. Chatham Capital Group Inc. now owns 26,460 shares of the insurance provider’s stock worth $1,693,000 after buying an additional 180 shares during the period. Covestor Ltd lifted its holdings in shares of RLI by 13.0% during the fourth quarter. Covestor Ltd now owns 1,590 shares of the insurance provider’s stock worth $102,000 after buying an additional 183 shares during the last quarter. Allworth Financial LP boosted its position in shares of RLI by 5.3% in 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 period. Farther Finance Advisors LLC boosted its position in shares of RLI by 94.4% in 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 period. Finally, Public Employees Retirement System of Ohio grew its stake in shares of RLI by 0.3% in the third quarter. Public Employees Retirement System of Ohio now owns 75,502 shares of the insurance provider’s stock worth $4,924,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 77.89% of the company’s stock.

Insider Buying and Selling at RLI

In other RLI news, Director David B. Duclos acquired 2,500 shares of RLI stock in a transaction dated Thursday, May 28th. The stock was bought at an average cost of $51.99 per share, with a total value of $129,975.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig W. Kliethermes bought 5,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average cost of $52.00 per share, for a total transaction of $260,000.00. Following the purchase, the chief executive officer owned 148,990 shares of the company’s stock, valued at $7,747,480. This trade represents a 3.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 16,500 shares of company stock valued at $858,955 over the last quarter. 2.39% of the stock is currently owned by insiders.

RLI Trading Down 0.6%

Shares of NYSE:RLI opened at $52.79 on Tuesday. The firm has a market capitalization of $4.85 billion, a PE ratio of 12.34 and a beta of 0.41. RLI Corp. has a 1-year low of $47.26 and a 1-year high of $74.00. The business’s 50 day moving average is $52.90 and its 200-day moving average is $58.11.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.10. RLI had a return on equity of 17.72% and a net margin of 20.81%.The business had revenue of $423.87 million during the quarter, compared to analyst estimates of $564.47 million. During the same period in the prior year, the company posted $0.92 earnings per share. RLI’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts predict that RLI Corp. will post 2.75 EPS for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a $0.18 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from RLI’s previous quarterly dividend of $0.16. RLI’s dividend payout ratio is currently 16.82%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RLI shares. Wells Fargo & Company dropped their target price 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 downgraded shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Wall Street Zen lowered shares of RLI from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Zacks Research upgraded shares of RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.