RLI Corp. $RLI Shares Purchased by Aquatic Capital Management LLC

Aquatic Capital Management LLC grew its stake in shares of RLI Corp. (NYSE:RLI) by 70.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,856 shares of the insurance provider’s stock after purchasing an additional 29,646 shares during the quarter. Aquatic Capital Management LLC owned 0.08% of RLI worth $4,686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RLI. Quent Capital LLC acquired a new position in RLI during the 3rd quarter worth approximately $26,000. Clarity Asset Management Inc. purchased a new position in shares of RLI in the second quarter valued at $28,000. AlphaQuest LLC acquired a new stake in RLI during the 3rd quarter valued at $43,000. Winnow Wealth LLC purchased a new stake in RLI during the 3rd quarter worth $49,000. Finally, Covestor Ltd increased its stake in RLI by 130.7% during the 3rd quarter. Covestor Ltd now owns 1,407 shares of the insurance provider’s stock worth $92,000 after buying an additional 797 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Insider Activity at RLI

In other RLI news, CEO Craig W. Kliethermes acquired 5,000 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was purchased at an average price of $57.45 per share, with a total value of $287,250.00. Following the completion of 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Jennifer L. Klobnak bought 2,000 shares of the stock in a transaction on Friday, January 23rd. The shares were acquired at an average price of $57.99 per share, with a total value of $115,980.00. Following the purchase, 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 disclosure for this purchase is available in the SEC filing. 2.16% of the stock is currently owned by company insiders.

RLI Price Performance

Shares of RLI stock opened at $61.46 on Tuesday. The firm has a fifty day moving average of $60.45 and a two-hundred day moving average of $62.54. The firm has a market cap of $5.65 billion, a P/E ratio of 14.10 and a beta of 0.50. RLI Corp. has a 1-year low of $55.80 and a 1-year high of $81.79.

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

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a $0.16 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. RLI’s dividend payout ratio (DPR) is presently 14.68%.

Analysts Set New Price Targets

A number of equities 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 on the stock in a report on Friday, January 23rd. Wells Fargo & Company set a $59.00 target price on RLI and gave the stock an “equal weight” rating in a research 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. Citizens Jmp reissued a “market perform” rating on shares of RLI in a report on Friday, January 23rd. Finally, Truist Financial set a $58.00 price objective on 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.20.

About RLI

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.