Global Alpha Capital Management Ltd. lowered its stake in RLI Corp. (NYSE:RLI – Free Report) by 6.7% in the 4th quarter, Holdings Channel reports. The firm owned 433,449 shares of the insurance provider’s stock after selling 31,037 shares during the quarter. RLI accounts for approximately 1.7% of Global Alpha Capital Management Ltd.’s portfolio, making the stock its 29th largest position. Global Alpha Capital Management Ltd.’s holdings in RLI were worth $27,732,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its stake in RLI by 49.1% in the 4th quarter. Parallel Advisors LLC now owns 2,168 shares of the insurance provider’s stock worth $139,000 after purchasing an additional 714 shares during the period. Vise Technologies Inc. boosted its stake in RLI by 221.4% in the 4th quarter. Vise Technologies Inc. now owns 14,719 shares of the insurance provider’s stock worth $942,000 after purchasing an additional 10,139 shares during the period. State of Wyoming boosted its stake in RLI by 98.9% in the 4th quarter. State of Wyoming now owns 9,243 shares of the insurance provider’s stock worth $591,000 after purchasing an additional 4,597 shares during the period. Evolution Wealth Management Inc. bought a new position in RLI in the 4th quarter worth about $113,000. Finally, CIBC Asset Management Inc bought a new position in RLI in the 4th quarter worth about $383,000. Institutional investors own 77.89% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Weiss Ratings downgraded RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Wells Fargo & Company dropped their price target on RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Keefe, Bruyette & Woods upgraded RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Wall Street Zen downgraded RLI from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Finally, Zacks Research upgraded RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.50.
Insider Transactions at RLI
In other news, CEO Craig W. Kliethermes bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average price of $52.00 per share, for a total transaction of $104,000.00. Following the transaction, the chief executive officer directly owned 150,990 shares of the company’s stock, valued at $7,851,480. This represents a 1.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer L. Klobnak bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of $52.72 per share, with a total value of $105,440.00. Following the transaction, the chief operating officer directly owned 104,318 shares in the company, valued at $5,499,644.96. The trade was a 1.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 16,500 shares of company stock worth $858,955. 2.39% of the stock is owned by corporate insiders.
RLI Price Performance
NYSE:RLI opened at $52.43 on Friday. The business has a 50 day moving average of $53.86 and a 200 day moving average of $58.91. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 12.25 and a beta of 0.41. RLI Corp. has a 1-year low of $47.26 and a 1-year high of $76.41.
RLI (NYSE:RLI – Get Free Report) last released its earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. The company had revenue of $423.87 million during the quarter, compared to the consensus estimate of $564.47 million. RLI had a return on equity of 17.72% and a net margin of 20.81%.RLI’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS. As a group, sell-side analysts anticipate that RLI Corp. will post 2.75 EPS for the current year.
RLI Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, May 29th. This is a positive change from RLI’s previous quarterly dividend of $0.16. RLI’s dividend payout ratio is presently 16.82%.
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.
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