2Xideas AG Sells 18,544 Shares of RLI Corp. $RLI

2Xideas AG reduced its position in RLI Corp. (NYSE:RLI) by 45.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,837 shares of the insurance provider’s stock after selling 18,544 shares during the quarter. 2Xideas AG’s holdings in RLI were worth $1,424,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Wasatch Advisors LP acquired a new position in shares of RLI in the 2nd quarter valued at $84,608,000. Norges Bank purchased a new position in shares of RLI in the second quarter worth about $74,533,000. UBS Group AG lifted its holdings in shares of RLI by 102.7% during the third quarter. UBS Group AG now owns 558,613 shares of the insurance provider’s stock worth $36,433,000 after purchasing an additional 283,083 shares during the period. JPMorgan Chase & Co. lifted its holdings 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 worth $92,782,000 after purchasing an additional 191,020 shares during the period. Finally, Jane Street Group LLC purchased a new stake in RLI in the second quarter valued at approximately $13,677,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Price Performance

RLI opened at $61.78 on Friday. The business has a fifty day moving average price of $60.47 and a 200 day moving average price of $62.66. RLI Corp. has a 12 month low of $55.80 and a 12 month high of $81.79. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 14.17 and a beta of 0.50.

RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $447.53 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. RLI’s dividend payout ratio (DPR) is presently 14.68%.

Insiders Place Their Bets

In related news, COO Jennifer L. Klobnak acquired 2,000 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was bought 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 directly 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Craig W. Kliethermes acquired 5,000 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were purchased at an average cost 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. The trade was a 3.60% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Jefferies Financial Group upgraded shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Friday, January 23rd. 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 set a $59.00 price target on RLI and gave the company an “equal weight” rating in a report on Friday, January 23rd. Citizens Jmp restated a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. Finally, Truist Financial set a $58.00 price objective on shares of RLI in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, RLI currently has a consensus rating of “Hold” and a consensus price target 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.