Janus Henderson Group PLC Buys 44,481 Shares of RLI Corp. $RLI

Key Points

• Janus Henderson increased its RLI stake by 12% in the first quarter, adding 44,481 shares to own 416,647 shares valued at approximately $23.8 million. Institutional investors collectively own 77.89% of RLI.
• RLI reported quarterly EPS of $0.83, beating estimates of $0.72, while revenue rose 15.2% year over year to $575.57 million. The company also increased its quarterly dividend from $0.16 to $0.18 per share.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $63.00. RLI shares opened at $61.27, while insiders have purchased 16,500 shares worth roughly $859,000 over the past 90 days.

Janus Henderson Group PLC raised its stake in RLI Corp. (NYSE:RLI - Free Report) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 416,647 shares of the insurance provider's stock after acquiring an additional 44,481 shares during the quarter. Janus Henderson Group PLC owned approximately 0.45% of RLI worth $23,765,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of RLI. Royal Bank of Canada raised its holdings in shares of RLI by 115.1% in the 1st quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider's stock worth $4,529,000 after purchasing an additional 30,170 shares during the period. Goldman Sachs Group Inc. increased its position in RLI by 110.8% in the first quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider's stock worth $14,902,000 after buying an additional 97,501 shares during the last quarter. Empowered Funds LLC increased its position in RLI by 472.3% in the first quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider's stock worth $2,344,000 after buying an additional 24,079 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of RLI by 46.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the insurance provider's stock valued at $113,000 after buying an additional 493 shares during the period. Finally, Amundi raised its stake in shares of RLI by 16,550.0% in the second quarter. Amundi now owns 23,976 shares of the insurance provider's stock valued at $1,689,000 after buying an additional 23,832 shares during the period. 77.89% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Clark C. Kellogg purchased 3,000 shares of the business's stock in a transaction on Monday, June 1st. The stock was purchased at an average cost of $50.90 per share, with a total value of $152,700.00. Following the acquisition, the director directly owned 4,502 shares in the company, valued at approximately $229,151.80. This trade represents a 199.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig W. Kliethermes purchased 2,000 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average cost of $52.00 per share, for a total transaction of $104,000.00. Following the acquisition, the chief executive officer owned 150,990 shares of the company's stock, valued at approximately $7,851,480. This trade represents a 1.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 16,500 shares of company stock valued at $858,955. 2.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RLI has been the subject of several research reports. UBS Group set a $74.00 price target on RLI in a research note on Tuesday, July 28th. Weiss Ratings upgraded RLI from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of RLI from a "sell" rating to a "hold" rating in a research report on Saturday. Wells Fargo & Company downgraded shares of RLI from an "equal weight" rating to an "underweight" rating and set a $57.00 target price for the company. in a research note on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $74.00 price target (up from $70.00) on shares of RLI in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $63.00.

RLI Stock Up 0.1%

RLI stock opened at $61.27 on Tuesday. The firm has a market capitalization of $5.62 billion, a PE ratio of 12.87 and a beta of 0.38. RLI Corp. has a twelve month low of $47.26 and a twelve month high of $69.19. The stock has a 50-day simple moving average of $57.21 and a two-hundred day simple moving average of $57.50.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.11. RLI had a net margin of 22.22% and a return on equity of 17.61%. The firm had revenue of $575.57 million for the quarter, compared to the consensus estimate of $568.70 million. During the same period in the prior year, the firm posted $0.82 earnings per share. The company's revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities research analysts anticipate that RLI Corp. will post 2.85 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a $0.18 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.72 annualized dividend and a yield of 1.2%. This is a boost from RLI's previous quarterly dividend of $0.16. RLI's dividend payout ratio is currently 15.13%.

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.

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