Bridgefront Capital LLC Makes New $701,000 Investment in RLI Corp. $RLI

Bridgefront Capital LLC purchased a new stake in RLI Corp. (NYSE:RLI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,746 shares of the insurance provider’s stock, valued at approximately $701,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RLI. Principal Financial Group Inc. increased its holdings in RLI by 8.0% during the 3rd quarter. Principal Financial Group Inc. now owns 274,777 shares of the insurance provider’s stock valued at $17,921,000 after acquiring an additional 20,438 shares in the last quarter. JPMorgan Chase & Co. raised its position in 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 acquiring an additional 191,020 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of RLI by 14.6% in the third quarter. Van Berkom & Associates Inc. now owns 1,229,649 shares of the insurance provider’s stock valued at $80,198,000 after purchasing an additional 156,241 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of RLI by 222.1% in the second quarter. Hsbc Holdings PLC now owns 36,461 shares of the insurance provider’s stock valued at $2,613,000 after purchasing an additional 25,140 shares during the last quarter. Finally, Empower Advisory Group LLC grew its position in shares of RLI by 2.5% in the second quarter. Empower Advisory Group LLC now owns 259,416 shares of the insurance provider’s stock valued at $18,735,000 after purchasing an additional 6,342 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Stock Performance

Shares of NYSE RLI opened at $61.78 on Monday. The firm has a market cap of $5.68 billion, a P/E ratio of 14.17 and a beta of 0.50. RLI Corp. has a 1 year low of $55.80 and a 1 year high of $81.79. The firm’s 50 day moving average price is $60.47 and its 200 day moving average price is $62.58.

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

RLI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a $0.16 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. RLI’s payout ratio is currently 14.68%.

Insider Buying and Selling at RLI

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RLI shares. Zacks Research downgraded RLI from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Wells Fargo & Company set a $59.00 target price on RLI and gave the company an “equal weight” rating in a report on Friday, January 23rd. Citizens Jmp reissued a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. Jefferies Financial Group raised RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target for the company in a report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods upgraded RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.20.

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.