Independent Advisor Alliance Sells 31,066 Shares of RLI Corp. $RLI

Independent Advisor Alliance decreased its stake in shares of RLI Corp. (NYSE:RLI) by 84.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,720 shares of the insurance provider’s stock after selling 31,066 shares during the quarter. Independent Advisor Alliance’s holdings in RLI were worth $373,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in RLI. Allianz Asset Management GmbH increased its stake in RLI by 2.3% during the second quarter. Allianz Asset Management GmbH now owns 7,104 shares of the insurance provider’s stock valued at $513,000 after acquiring an additional 163 shares during the period. Vista Finance LLC grew its holdings in shares of RLI by 4.0% during the 2nd quarter. Vista Finance LLC now owns 4,655 shares of the insurance provider’s stock worth $336,000 after purchasing an additional 181 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of RLI by 6.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,341 shares of the insurance provider’s stock valued at $241,000 after purchasing an additional 195 shares during the period. Brookstone Capital Management raised its stake in shares of RLI by 5.6% in the second quarter. Brookstone Capital Management now owns 3,876 shares of the insurance provider’s stock valued at $280,000 after purchasing an additional 207 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in RLI by 4.6% in the second quarter. Steward Partners Investment Advisory LLC now owns 4,866 shares of the insurance provider’s stock worth $351,000 after purchasing an additional 214 shares during the period. Institutional investors own 77.89% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group raised shares of 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 shares of RLI from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Citizens Jmp reissued a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. Keefe, Bruyette & Woods lowered their price objective on RLI from $85.00 to $81.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 6th. Finally, Truist Financial set a $58.00 target price on RLI in a research report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, RLI currently has an average rating of “Hold” and an average price target of $65.20.

RLI Stock Performance

Shares of NYSE:RLI opened at $61.96 on Friday. RLI Corp. has a twelve month low of $55.80 and a twelve month high of $81.79. The firm has a market cap of $5.69 billion, a PE ratio of 14.21 and a beta of 0.53. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.32. The business has a fifty day moving average of $61.74 and a 200-day moving average of $63.71.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.76 by $0.18. The business had revenue of $465.69 million for the quarter, compared to analysts’ expectations of $447.53 million. RLI had a net margin of 21.43% and a return on equity of 18.67%. During the same period in the prior year, the firm earned $0.41 earnings per share. On average, equities research analysts predict that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 28th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, November 28th. RLI’s dividend payout ratio (DPR) is 14.68%.

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.