Bessemer Group Inc. Sells 11,074 Shares of RLI Corp. $RLI

Bessemer Group Inc. lessened its position in RLI Corp. (NYSE:RLI) by 68.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,021 shares of the insurance provider’s stock after selling 11,074 shares during the quarter. Bessemer Group Inc.’s holdings in RLI were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in RLI by 94.4% during the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 201 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of RLI by 156.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 283 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of RLI in the 4th quarter worth approximately $43,000. IFP Advisors Inc boosted its position in shares of RLI by 85.9% in the 4th quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 316 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of RLI in the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Insiders Place Their Bets

In other RLI news, Director Clark C. Kellogg acquired 3,000 shares of RLI stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the acquisition, the director owned 4,502 shares of the company’s stock, valued at $229,151.80. This represents a 199.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jennifer L. Klobnak bought 2,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were bought at an average price of $52.72 per share, for a total transaction of $105,440.00. Following the purchase, the chief operating officer directly owned 104,318 shares in the company, valued at approximately $5,499,644.96. This trade represents a 1.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 16,500 shares of company stock valued at $858,955 over the last quarter. Corporate insiders own 2.39% of the company’s stock.

RLI Price Performance

Shares of RLI opened at $61.92 on Monday. RLI Corp. has a twelve month low of $47.26 and a twelve month high of $69.19. The company has a market capitalization of $5.69 billion, a P/E ratio of 13.01 and a beta of 0.38. The firm has a 50 day moving average of $55.96 and a 200 day moving average of $57.36. The company has a quick ratio of 0.37, a current ratio of 0.35 and a debt-to-equity ratio of 0.17.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.72 by $0.11. The business had revenue of $575.57 million for the quarter, compared to the consensus estimate of $568.70 million. RLI had a return on equity of 17.61% and a net margin of 22.22%.The company’s revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business posted $0.82 EPS. As a group, equities research analysts anticipate that RLI Corp. will post 2.75 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. This is a boost from RLI’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, May 29th. RLI’s payout ratio is 15.13%.

Analyst Ratings Changes

A number of research firms recently weighed in on RLI. Weiss Ratings lowered RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Wells Fargo & Company increased their target price on RLI from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods increased their target price on RLI from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Zacks Research upgraded RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Wall Street Zen lowered RLI from a “hold” rating to a “sell” rating in a research report on Monday, July 20th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, RLI has an average rating of “Hold” and an average target price of $60.50.

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.