RLI Corp. $RLI Stake Cut by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL lessened its holdings in RLI Corp. (NYSE:RLI) by 5.8% in the third quarter, HoldingsChannel.com reports. The firm owned 279,181 shares of the insurance provider’s stock after selling 17,182 shares during the period. Vaughan David Investments LLC IL’s holdings in RLI were worth $18,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of RLI by 45.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,496 shares of the insurance provider’s stock valued at $292,000 after buying an additional 1,411 shares during the last quarter. Amalgamated Bank grew its holdings in shares of RLI by 8.6% during the third quarter. Amalgamated Bank now owns 41,909 shares of the insurance provider’s stock valued at $2,733,000 after purchasing an additional 3,324 shares during the last quarter. Resonant Capital Advisors LLC raised its position in shares of RLI by 17.2% during the 3rd quarter. Resonant Capital Advisors LLC now owns 11,904 shares of the insurance provider’s stock worth $776,000 after purchasing an additional 1,749 shares during the period. Quent Capital LLC acquired a new stake in shares of RLI during the 3rd quarter worth approximately $26,000. Finally, Oregon Public Employees Retirement Fund boosted its position in RLI by 8.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 18,472 shares of the insurance provider’s stock valued at $1,205,000 after purchasing an additional 1,400 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Stock Performance

RLI opened at $59.63 on Tuesday. The stock’s 50 day moving average price is $62.97 and its two-hundred day moving average price is $64.71. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.05. RLI Corp. has a 12-month low of $57.75 and a 12-month high of $81.79. The firm has a market capitalization of $5.48 billion, a P/E ratio of 15.56 and a beta of 0.54.

RLI (NYSE:RLI) last announced its earnings results on Monday, October 20th. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The company had revenue of $509.26 million for the quarter, compared to analysts’ expectations of $444.75 million. During the same quarter in the prior year, the business earned $1.31 earnings per share. On average, equities analysts forecast 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 was paid on Friday, December 19th. Shareholders of record on Friday, November 28th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.1%. RLI’s dividend payout ratio is currently 16.80%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Truist Financial set a $62.00 target price on shares of RLI and gave the stock a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company set a $62.00 target price on RLI and gave the company an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, RLI currently has an average rating of “Hold” and a consensus price target of $70.33.

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.