Key Points
- RLI CEO Craig Kliethermes bought 2,000 shares on May 27 at an average price of $52.00, a total purchase of $104,000. After the transaction, he owned 150,990 shares valued at about $7.85 million.
- RLI shares were down 1.0% and last traded around $51.53, near the lower end of their 52-week range of $47.26 to $77.24.
- The company raised its quarterly dividend to $0.18 per share from $0.16, which annualizes to $0.72 and implies a 1.4% yield.
RLI Corp. (NYSE:RLI - Get Free Report) CEO Craig Kliethermes acquired 2,000 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of $52.00 per share, for a total transaction of $104,000.00. Following the acquisition, the chief executive officer owned 150,990 shares in the company, valued at approximately $7,851,480. This trade represents a 1.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.
RLI Stock Down 1.0%
RLI stock opened at $51.53 on Friday. RLI Corp. has a fifty-two week low of $47.26 and a fifty-two week high of $77.24. The firm's 50-day simple moving average is $54.72 and its 200 day simple moving average is $59.38. The stock has a market cap of $4.74 billion, a PE ratio of 12.04 and a beta of 0.42.
RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.10. RLI had a net margin of 20.81% and a return on equity of 17.72%. The business had revenue of $423.87 million for the quarter, compared to analysts' expectations of $564.47 million. During the same quarter last year, the company earned $0.92 EPS. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts forecast that RLI Corp. will post 2.75 EPS for the current fiscal year.
RLI Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. This is a positive change from RLI's previous quarterly dividend of $0.16. RLI's dividend payout ratio is 14.95%.
Hedge Funds Weigh In On RLI
Several large investors have recently made changes to their positions in the business. Chatham Capital Group Inc. boosted its stake in RLI by 0.7% during the 4th quarter. Chatham Capital Group Inc. now owns 26,460 shares of the insurance provider's stock worth $1,693,000 after acquiring an additional 180 shares during the last quarter. Covestor Ltd boosted its stake in RLI by 13.0% during the 4th quarter. Covestor Ltd now owns 1,590 shares of the insurance provider's stock worth $102,000 after acquiring an additional 183 shares during the last quarter. Allworth Financial LP boosted its stake in RLI by 5.3% during the 3rd quarter. Allworth Financial LP now owns 3,760 shares of the insurance provider's stock worth $245,000 after acquiring an additional 189 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in RLI by 94.4% during the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider's stock worth $26,000 after acquiring an additional 201 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in RLI by 0.3% during the 3rd 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.
Analyst Ratings Changes
RLI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised shares of RLI from a "moderate buy" rating to a "strong-buy" rating in a research note on Tuesday, February 24th. Wall Street Zen lowered shares of RLI from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. Wells Fargo & Company reduced their price target on shares of RLI from $59.00 to $55.00 and set an "equal weight" rating for the company in a research note on Thursday, April 9th. Zacks Research raised shares of RLI from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings lowered shares of RLI from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, RLI currently has a consensus rating of "Hold" and a consensus target price of $61.50.
Read Our Latest Research Report on RLI
About RLI
(
Get Free Report)
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.
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