RLI Corp. (NYSE:RLI) Stock Position Increased by Maren Capital LLC

Maren Capital LLC grew its holdings in RLI Corp. (NYSE:RLI) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 700,603 shares of the insurance provider’s stock after purchasing an additional 25,874 shares during the quarter. RLI accounts for about 8.8% of Maren Capital LLC’s holdings, making the stock its 4th biggest holding. Maren Capital LLC’s holdings in RLI were worth $115,480,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in RLI by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 471,752 shares of the insurance provider’s stock valued at $77,759,000 after buying an additional 9,131 shares in the last quarter. New York Life Investment Management LLC purchased a new position in shares of RLI during the fourth quarter worth about $728,000. Raymond James Financial Inc. purchased a new stake in shares of RLI in the 4th quarter valued at about $17,854,000. Empowered Funds LLC acquired a new stake in shares of RLI in the 4th quarter valued at about $840,000. Finally, Callan Family Office LLC acquired a new stake in shares of RLI in the fourth quarter valued at approximately $1,199,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Stock Performance

NYSE RLI opened at $76.75 on Monday. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $76.06 and its two-hundred day moving average is $79.57. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 20.49 and a beta of 0.49. RLI Corp. has a 12-month low of $67.53 and a 12-month high of $91.15.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a return on equity of 16.63% and a net margin of 19.53%. Research analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.78%. This is an increase from RLI’s previous quarterly dividend of $0.15. RLI’s payout ratio is currently 16.00%.

Insiders Place Their Bets

In other RLI news, Director Michael E. Angelina acquired 2,200 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were acquired at an average cost of $72.62 per share, for a total transaction of $159,764.00. Following the transaction, the director now directly owns 23,514 shares of the company’s stock, valued at approximately $1,707,586.68. This represents a 10.32 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Craig W. Kliethermes bought 5,000 shares of the business’s stock in a transaction on Friday, January 24th. The shares were acquired at an average price of $71.35 per share, with a total value of $356,750.00. Following the transaction, the chief executive officer now owns 139,190 shares of the company’s stock, valued at $9,931,206.50. The trade was a 3.73 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 11,200 shares of company stock worth $805,774. 5.09% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on RLI shares. Keefe, Bruyette & Woods reduced their price target on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. JMP Securities reiterated a “market perform” rating on shares of RLI in a research note on Thursday, January 23rd. Royal Bank of Canada reduced their price objective on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Compass Point dropped their target price on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Finally, StockNews.com raised RLI from a “sell” rating to a “hold” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $82.80.

About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.