Key Points
- RLI director Clark Kellogg bought 3,000 shares for about $152,700 at an average price of $50.90 per share, boosting his stake by nearly 200% to 4,502 shares.
- The stock recently traded around $50.76, near its 52-week low of $47.26 and well below its 52-week high of $77.24, reflecting a relatively weak share-price trend.
- RLI recently raised its quarterly dividend to $0.18 per share from $0.16, giving it an annualized yield of about 1.4%; the company also beat EPS estimates in its latest earnings report, though revenue came in below expectations.
RLI Corp. (NYSE:RLI - Get Free Report) Director Clark Kellogg bought 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the completion of the acquisition, the director owned 4,502 shares in the company, valued at $229,151.80. This trade represents a 199.73% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
RLI Stock Performance
Shares of RLI stock opened at $50.76 on Tuesday. RLI Corp. has a one year low of $47.26 and a one year high of $77.24. The stock's fifty day moving average is $54.40 and its 200 day moving average is $59.22. The stock has a market cap of $4.67 billion, a P/E ratio of 11.86 and a beta of 0.41.
RLI (NYSE:RLI - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 EPS for the quarter, topping 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 company had revenue of $423.87 million for the quarter, compared to analysts' expectations of $564.47 million. During the same period last year, the firm earned $0.92 EPS. RLI's revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts predict that RLI Corp. will post 2.75 EPS for the current year.
RLI Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. This is an increase from RLI's previous quarterly dividend of $0.16. RLI's payout ratio is 16.82%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in RLI by 8.0% in the third quarter. Principal Financial Group Inc. now owns 274,777 shares of the insurance provider's stock worth $17,921,000 after acquiring an additional 20,438 shares in the last quarter. Van Berkom & Associates Inc. boosted its position in shares of RLI by 14.6% during the third quarter. Van Berkom & Associates Inc. now owns 1,229,649 shares of the insurance provider's stock valued at $80,198,000 after buying an additional 156,241 shares during the period. JPMorgan Chase & Co. boosted its position in shares of RLI by 15.5% during the third quarter. JPMorgan Chase & Co. now owns 1,422,596 shares of the insurance provider's stock valued at $92,782,000 after buying an additional 191,020 shares during the period. UBS Group AG boosted its position in shares of RLI by 8.7% during the fourth quarter. UBS Group AG now owns 607,176 shares of the insurance provider's stock valued at $38,847,000 after buying an additional 48,563 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of RLI by 1,030.2% during the fourth quarter. SG Americas Securities LLC now owns 34,009 shares of the insurance provider's stock valued at $2,176,000 after buying an additional 31,000 shares during the period. Hedge funds and other institutional investors own 77.89% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on RLI. Weiss Ratings cut RLI from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 22nd. Keefe, Bruyette & Woods raised RLI from a "moderate buy" rating to a "strong-buy" rating in a report on Tuesday, February 24th. Wells Fargo & Company decreased their price target on RLI from $59.00 to $55.00 and set an "equal weight" rating on the stock in a report on Thursday, April 9th. Wall Street Zen cut RLI from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Finally, Zacks Research raised RLI from a "strong sell" rating to a "hold" rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, RLI currently has an average rating of "Hold" and a consensus price target of $61.50.
Get Our Latest Report on RLI
RLI Company Profile
(
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.
Further Reading
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