RLI Corp. $RLI Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its RLI stake by 70.1% in the third quarter, selling 17,118 shares and retaining 7,307 shares worth approximately $404,000. Institutional investors collectively own 77.89% of RLI.
• Analyst sentiment is mixed to negative, with one Buy, three Hold, and two Sell ratings. MarketBeat reports a consensus rating of “Reduce” and an average price target of $62.
• RLI reported quarterly EPS of $0.83, exceeding estimates by $0.11, while revenue rose 15.2% year over year to $575.57 million. The company pays a quarterly dividend of $0.18 per share, representing a 1.2% yield.

Curated Wealth Partners LLC reduced its holdings in shares of RLI Corp. (NYSE:RLI - Free Report) by 70.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,307 shares of the insurance provider's stock after selling 17,118 shares during the quarter. Curated Wealth Partners LLC's holdings in RLI were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in RLI during the second quarter worth $492,175,000. Wasatch Advisors LP lifted its holdings in RLI by 40.7% in the 2nd quarter. Wasatch Advisors LP now owns 3,631,273 shares of the insurance provider's stock valued at $214,499,000 after purchasing an additional 1,051,318 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of RLI by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,920,823 shares of the insurance provider's stock worth $109,567,000 after purchasing an additional 21,299 shares during the last quarter. Maren Capital LLC boosted its stake in shares of RLI by 1.6% during the 2nd quarter. Maren Capital LLC now owns 1,817,370 shares of the insurance provider's stock worth $107,352,000 after purchasing an additional 28,366 shares during the last quarter. Finally, Port Capital LLC acquired a new stake in shares of RLI during the 2nd quarter worth about $79,499,000. Institutional investors and hedge funds own 77.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RLI. Weiss Ratings upgraded RLI from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 28th. Jefferies Financial Group cut RLI from a "hold" rating to an "underperform" rating and set a $53.00 price objective on the stock. in a report on Tuesday, August 25th. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. UBS Group set a $74.00 target price on RLI in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $74.00 target price (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, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, RLI has a consensus rating of "Reduce" and an average price target of $62.00.

RLI Price Performance

Shares of RLI stock opened at $61.09 on Friday. The firm has a market cap of $5.61 billion, a P/E ratio of 17.34 and a beta of 0.36. RLI Corp. has a 1-year low of $47.26 and a 1-year high of $67.12. The firm has a fifty day moving average of $60.56 and a two-hundred day moving average of $57.77.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. RLI had a return on equity of 17.61% and a net margin of 22.22%. The firm had revenue of $575.57 million for the quarter, compared to analysts' expectations of $568.70 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. RLI's revenue for the quarter was up 15.2% compared to the same quarter last year. On average, sell-side analysts expect that RLI Corp. will post 2.90 EPS for the current year.

RLI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 31st. RLI's dividend payout ratio is currently 15.13%.

RLI Profile

RLI Corp. is a specialty insurance company that underwrites a broad range of property and casualty insurance products for individuals, businesses and organizations. Its offerings include commercial casualty coverage, property insurance, surety bonds, transportation-related insurance, professional liability and personal umbrella policies.

The company serves specialty markets that may be underserved by standard insurance providers. RLI distributes its products through independent agents and brokers, with business conducted primarily throughout the United States and coverage available across many industries, professions and geographic regions.

RLI was founded in 1965 as Replacement Lens, Inc, initially providing replacement coverage for automobile windshield lenses before expanding into specialty insurance.

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