Inspire Investing LLC Grows Holdings in RLI Corp. $RLI

Inspire Investing LLC grew its holdings in shares of RLI Corp. (NYSE:RLI) by 26.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,483 shares of the insurance provider’s stock after buying an additional 1,337 shares during the quarter. Inspire Investing LLC’s holdings in RLI were worth $468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Callan Family Office LLC boosted its stake in shares of RLI by 1,508.5% during the 2nd quarter. Callan Family Office LLC now owns 64,936 shares of the insurance provider’s stock valued at $4,690,000 after buying an additional 60,899 shares during the last quarter. Roundview Capital LLC boosted its stake in shares of RLI by 9.4% during the 2nd quarter. Roundview Capital LLC now owns 10,436 shares of the insurance provider’s stock valued at $754,000 after buying an additional 901 shares during the last quarter. Chung Wu Investment Group LLC bought a new position in RLI during the second quarter worth $29,000. Ameritas Advisory Services LLC bought a new position in RLI during the second quarter worth $37,000. Finally, Tower View Wealth Management LLC bought a new position in RLI during the second quarter worth $298,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Stock Performance

RLI stock opened at $63.24 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 18.12 and a beta of 0.60. RLI Corp. has a 1 year low of $62.04 and a 1 year high of $91.14. The stock’s fifty day moving average is $66.25 and its two-hundred day moving average is $71.05.

RLI (NYSE:RLI) last posted its earnings results on Monday, July 21st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $562.28 million for the quarter, compared to analysts’ expectations of $445.55 million. RLI had a return on equity of 15.82% and a net margin of 17.81%.The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business posted $1.72 earnings per share. On average, research analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, August 29th. RLI’s dividend payout ratio (DPR) is presently 18.34%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RLI shares. Truist Financial set a $62.00 price objective on RLI and gave the stock a “hold” rating in a research note on Friday, October 3rd. Wall Street Zen upgraded RLI from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, RLI presently has an average rating of “Hold” and an average target price of $72.80.

Insider Transactions at RLI

In related news, COO Jennifer L. Klobnak bought 3,000 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were bought at an average cost of $69.15 per share, for a total transaction of $207,450.00. Following the completion of the purchase, the chief operating officer owned 98,450 shares of the company’s stock, valued at $6,807,817.50. This represents a 3.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.16% of the company’s stock.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.