AGF Management Ltd. Has $3.18 Million Holdings in RLI Corp. $RLI

AGF Management Ltd. grew its holdings in shares of RLI Corp. (NYSE:RLI) by 22.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,734 shares of the insurance provider’s stock after acquiring an additional 8,786 shares during the quarter. AGF Management Ltd. owned 0.05% of RLI worth $3,178,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quent Capital LLC bought a new position in RLI in the 3rd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd raised its stake in shares of RLI by 7,300.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 365 shares during the last quarter. Clarity Asset Management Inc. bought a new position in shares of RLI in the second quarter valued at approximately $28,000. Hantz Financial Services Inc. boosted its position in shares of RLI by 3,645.5% during the second quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock valued at $30,000 after buying an additional 401 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in RLI during the second quarter worth $37,000. Institutional investors own 77.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target on the stock in a report on Friday, January 23rd. Zacks Research cut RLI from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods reduced their price target on shares of RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Wells Fargo & Company set a $59.00 price objective on shares of RLI and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reiterated 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, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $65.20.

Insider Transactions at RLI

In other news, COO Jennifer L. Klobnak acquired 2,000 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was bought at an average cost of $57.99 per share, for a total transaction of $115,980.00. Following the completion of the transaction, the chief operating officer owned 100,318 shares of the company’s stock, valued at $5,817,440.82. The trade was a 2.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Craig W. Kliethermes acquired 5,000 shares of RLI stock in a transaction that occurred on Friday, January 23rd. The shares were purchased at an average cost of $57.45 per share, with a total value of $287,250.00. Following the purchase, the chief executive officer owned 143,990 shares of the company’s stock, valued at $8,272,225.50. This represents a 3.60% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.16% of the company’s stock.

RLI Stock Up 2.2%

RLI opened at $60.98 on Thursday. RLI Corp. has a 12 month low of $55.80 and a 12 month high of $81.79. The company has a market cap of $5.60 billion, a PE ratio of 13.99 and a beta of 0.53. The company has a current ratio of 0.32, a quick ratio of 0.35 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $61.78 and a 200 day moving average of $63.72.

RLI (NYSE:RLI) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.18. The firm had revenue of $465.69 million for the quarter, compared to the consensus estimate of $447.53 million. RLI had a return on equity of 18.67% and a net margin of 21.43%.During the same quarter in the prior year, the business posted $0.41 earnings per share. On average, sell-side analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 28th were given a dividend of $0.16 per share. The ex-dividend date was Friday, November 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. RLI’s dividend payout ratio is currently 14.68%.

RLI 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.