California Public Employees Retirement System Has $11.49 Million Stake in RLI Corp. $RLI

California Public Employees Retirement System reduced its stake in shares of RLI Corp. (NYSE:RLI) by 8.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,391 shares of the insurance provider’s stock after selling 18,766 shares during the period. California Public Employees Retirement System owned 0.22% of RLI worth $11,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RLI. UBS Group AG raised its holdings in RLI by 8.7% in the 4th quarter. UBS Group AG now owns 607,176 shares of the insurance provider’s stock worth $38,847,000 after acquiring an additional 48,563 shares during the period. SG Americas Securities LLC lifted its position in RLI by 1,030.2% during the 4th quarter. SG Americas Securities LLC now owns 34,009 shares of the insurance provider’s stock worth $2,176,000 after acquiring an additional 31,000 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in RLI by 39.8% during the third quarter. Tudor Investment Corp ET AL now owns 34,879 shares of the insurance provider’s stock valued at $2,275,000 after acquiring an additional 9,932 shares during the period. Chase Investment Counsel Corp bought a new stake in RLI during the fourth quarter valued at about $1,535,000. Finally, Vanguard Group Inc. grew its position in shares of RLI by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock valued at $604,542,000 after purchasing an additional 310,857 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Insider Transactions at RLI

In other news, Director David B. Duclos bought 2,500 shares of RLI stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average cost of $51.99 per share, with a total value of $129,975.00. Following the completion of the transaction, the director directly owned 9,780 shares in the company, valued at $508,462.20. This trade represents a 34.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clark C. Kellogg purchased 3,000 shares of the stock in a transaction on Monday, June 1st. The stock was acquired at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the acquisition, the director directly owned 4,502 shares in the company, valued at approximately $229,151.80. This trade represents a 199.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 16,500 shares of company stock valued at $858,955. Company insiders own 2.39% of the company’s stock.

RLI Stock Up 1.2%

NYSE RLI opened at $61.92 on Friday. RLI Corp. has a twelve month low of $47.26 and a twelve month high of $69.19. The stock has a market cap of $5.69 billion, a PE ratio of 13.01 and a beta of 0.38. The firm has a 50-day simple moving average of $55.96 and a 200 day simple moving average of $57.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.37 and a current ratio of 0.35.

RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. The firm had revenue of $575.57 million for the quarter, compared to analyst estimates of $568.70 million. RLI had a return on equity of 17.61% and a net margin of 22.22%.The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. On average, research analysts forecast that RLI Corp. will post 2.75 EPS for the current year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a dividend of $0.18 per share. This is a boost from RLI’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, May 29th. RLI’s dividend payout ratio (DPR) is presently 16.82%.

Analyst Ratings Changes

A number of equities analysts have recently commented on RLI shares. Keefe, Bruyette & Woods lifted their price objective on RLI from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Weiss Ratings lowered RLI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Wells Fargo & Company lifted their price target on RLI from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Zacks Research upgraded RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Wall Street Zen cut RLI from a “hold” rating to a “sell” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, RLI presently has a consensus rating of “Hold” and an average target price of $60.50.

RLI Company 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.