Alps Advisors Inc. Sells 43,496 Shares of RLI Corp. $RLI

Alps Advisors Inc. decreased its holdings in RLI Corp. (NYSE:RLI) by 25.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,972 shares of the insurance provider’s stock after selling 43,496 shares during the period. Alps Advisors Inc. owned 0.14% of RLI worth $8,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RLI. Equitable Trust Co. grew its stake in shares of RLI by 60.0% during the second quarter. Equitable Trust Co. now owns 13,013 shares of the insurance provider’s stock valued at $940,000 after buying an additional 4,880 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of RLI by 228.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 140,971 shares of the insurance provider’s stock worth $10,181,000 after acquiring an additional 98,049 shares during the last quarter. AGF Management Ltd. boosted its holdings in RLI by 12.4% during the 2nd quarter. AGF Management Ltd. now owns 39,948 shares of the insurance provider’s stock valued at $2,885,000 after acquiring an additional 4,419 shares during the period. Hsbc Holdings PLC grew its position in RLI by 222.1% in the 2nd quarter. Hsbc Holdings PLC now owns 36,461 shares of the insurance provider’s stock valued at $2,613,000 after acquiring an additional 25,140 shares during the last quarter. Finally, MGO One Seven LLC increased its stake in RLI by 732.3% in the second quarter. MGO One Seven LLC now owns 42,037 shares of the insurance provider’s stock worth $3,036,000 after purchasing an additional 36,986 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Stock Down 0.4%

Shares of RLI stock opened at $61.73 on Monday. The firm’s 50 day moving average price is $61.74 and its 200-day moving average price is $63.57. The company has a quick ratio of 0.35, a current ratio of 0.32 and a debt-to-equity ratio of 0.05. RLI Corp. has a 52-week low of $55.80 and a 52-week high of $81.79. The company has a market cap of $5.67 billion, a P/E ratio of 14.16 and a beta of 0.53.

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

RLI Announces Dividend

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

Insider Activity

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on RLI. Citizens Jmp restated a “market perform” rating on shares of RLI in a report on Friday, January 23rd. Truist Financial set a $58.00 price objective on shares of RLI in a research report on Friday, January 23rd. Jefferies Financial Group raised shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 target price on the stock in a research report on Friday, January 23rd. Zacks Research lowered RLI from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Finally, Wells Fargo & Company set a $59.00 price objective on shares of RLI and gave the company an “equal weight” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.20.

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.