Prospera Financial Services Inc Has $7.78 Million Holdings in RLI Corp. $RLI

Key Points

• Prospera Financial Services cut its RLI Corp. stake by 20.2% in the fourth quarter, selling 30,855 shares and ending with 121,612 shares valued at about $7.78 million.
• RLI reported Q1 earnings of $0.83 per share, beating estimates, while revenue came in below expectations at $423.87 million despite rising 4% year over year.
• The company raised its quarterly dividend to $0.18 per share from $0.16, bringing the annualized payout to $0.72 and a yield of about 1.4%.

Prospera Financial Services Inc lessened its position in RLI Corp. (NYSE:RLI - Free Report) by 20.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,612 shares of the insurance provider's stock after selling 30,855 shares during the quarter. Prospera Financial Services Inc owned about 0.13% of RLI worth $7,781,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RLI. Farther Finance Advisors LLC raised its holdings in RLI by 94.4% in the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider's stock worth $26,000 after acquiring an additional 201 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in RLI by 156.4% in the 3rd 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 during the period. MassMutual Private Wealth & Trust FSB raised its holdings in RLI by 72.1% in the 4th 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 during the period. AlphaQuest LLC bought a new position in RLI in the 3rd quarter worth $43,000. Finally, Eagle Bay Advisors LLC bought a new position in RLI in the 4th quarter worth $43,000. Institutional investors own 77.89% of the company's stock.

RLI Stock Down 0.0%

NYSE:RLI opened at $52.56 on Monday. RLI Corp. has a 12-month low of $47.26 and a 12-month high of $77.24. The firm has a market capitalization of $4.83 billion, a PE ratio of 12.28 and a beta of 0.42. The firm has a 50-day moving average price of $55.48 and a 200 day moving average price of $59.63.

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

RLI Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.4%. This is a boost from RLI's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, May 29th. RLI's dividend payout ratio (DPR) is currently 14.95%.

Analysts Set New Price Targets

RLI has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of RLI from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Wells Fargo & Company dropped their target price on shares of RLI from $59.00 to $55.00 and set an "equal weight" rating on the stock in a report on Thursday, April 9th. Weiss Ratings downgraded shares of RLI from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday. Keefe, Bruyette & Woods upgraded shares of RLI from a "moderate buy" rating to a "strong-buy" rating in a report on Tuesday, February 24th. Finally, Zacks Research upgraded shares of RLI from a "strong sell" rating to a "hold" rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $61.50.

Insider Transactions at RLI

In other RLI news, COO Jennifer L. Klobnak purchased 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $53.42 per share, with a total value of $106,840.00. Following the completion of the transaction, the chief operating officer directly owned 102,318 shares of the company's stock, valued at approximately $5,465,827.56. This trade represents a 1.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.39% of the stock is owned by company insiders.

RLI 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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