Chase Investment Counsel Corp Acquires New Stake in RLI Corp. $RLI

Key Points

• Chase Investment Counsel Corp opened a new position in RLI Corp. during the fourth quarter, buying 24,000 shares worth about $1.535 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 77.89% of RLI’s stock. Several other firms also increased or initiated positions recently.
• RLI’s shareholder returns were lifted by a 12.5% dividend increase to $0.18 per share, a $2.00 special dividend, and a new $250 million share buyback program, even as analysts mostly keep a Hold view on the stock.

Chase Investment Counsel Corp acquired a new stake in RLI Corp. (NYSE:RLI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 24,000 shares of the insurance provider's stock, valued at approximately $1,535,000.

Other institutional investors have also bought and sold shares of the company. Quent Capital LLC purchased a new position in RLI in the third quarter valued at approximately $26,000. Farther Finance Advisors LLC lifted its position in shares of 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 position 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 worth $30,000 after acquiring an additional 283 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of RLI by 72.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider's stock worth $40,000 after acquiring an additional 259 shares in the last quarter. Finally, AlphaQuest LLC purchased a new stake in shares of RLI during the third quarter worth $43,000. Hedge funds and other institutional investors own 77.89% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RLI shares. Weiss Ratings restated a "hold (c-)" rating on shares of RLI in a research report on Thursday, April 2nd. Wall Street Zen downgraded RLI from a "hold" rating to a "sell" rating in a research report on Saturday, May 2nd. Zacks Research upgraded RLI from a "strong sell" rating to a "hold" rating in a research report on Thursday, April 2nd. Citizens Jmp restated a "market perform" rating on shares of RLI in a research report on Friday, January 23rd. Finally, Jefferies Financial Group upgraded RLI from an "underperform" rating to a "hold" rating and set a $52.00 target price on the stock in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, RLI currently has a consensus rating of "Hold" and a consensus target price of $61.50.

More RLI News

Here are the key news stories impacting RLI this week:

• Positive Sentiment: RLI announced a $2.00 special dividend, boosting near-term shareholder returns and reinforcing its capital strength. RLI Boosts Shareholder Value With Dividends, Approves Buyback Program
• Positive Sentiment: The board raised the quarterly dividend by 12.5% to $0.18 per share, which should support investor sentiment around ongoing cash generation. RLI Declares Regular and Special Dividends and Authorizes New $250 Million Share Repurchase Program
• Positive Sentiment: RLI also authorized a new $250 million share buyback program, which could support earnings per share and reduce share count over time. RLI Boosts Dividend and Authorizes New Share Repurchase
• Neutral Sentiment: Zacks Research modestly increased its Q4 2027 EPS estimate to $0.62, suggesting only a slight improvement in long-term expectations. RLI stock page
• Neutral Sentiment: The same firm cut its Q4 2026 EPS estimate to $0.64 and lowered FY2027 EPS to $2.66, indicating some caution on medium-term earnings growth. RLI stock page
• Neutral Sentiment: Brokerage sentiment remains largely unchanged, with analysts maintaining an overall “Hold” view on the stock. RLI Corp. NYSE: RLI Given Average Recommendation of "Hold" by Brokerages

RLI Stock Performance

RLI stock opened at $50.88 on Monday. The stock has a market cap of $4.68 billion, a P/E ratio of 11.89 and a beta of 0.42. RLI Corp. has a fifty-two week low of $47.26 and a fifty-two week high of $77.24. The firm's fifty day moving average price is $56.32 and its 200-day moving average price is $59.85.

RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.10. The firm had revenue of $423.87 million for the quarter, compared to analysts' expectations of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. The business's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Sell-side analysts predict that RLI Corp. will post 2.7 earnings per share for the current year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, May 29th. This is an increase from RLI's previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.4%. RLI's payout ratio is currently 14.95%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.