RLI Corp. $RLI Stake Lifted by Maren Capital LLC

Key Points

• Maren Capital LLC significantly increased its stake in RLI Corp. by 121.5%, now holding about 1.69% of the company, valued at approximately $124.68 million.
• RLI announced a quarterly dividend of $0.16 per share, equating to an annualized yield of 0.9%, with the payment date set for September 19th.
• Wall Street analysts currently rate RLI shares as a "Hold," with a consensus price target of $78.60, following mixed assessments from various research firms.

Maren Capital LLC grew its holdings in RLI Corp. (NYSE:RLI - Free Report) by 121.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,552,053 shares of the insurance provider's stock after purchasing an additional 851,450 shares during the period. RLI makes up about 8.5% of Maren Capital LLC's holdings, making the stock its 4th biggest position. Maren Capital LLC owned about 1.69% of RLI worth $124,676,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC raised its position in shares of RLI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 186 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of RLI by 100.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 198 shares during the period. Versant Capital Management Inc raised its position in shares of RLI by 100.0% in the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 203 shares during the period. Farther Finance Advisors LLC raised its position in shares of RLI by 88.5% in the first quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 224 shares during the period. Finally, Compass Wealth Management LLC raised its position in shares of RLI by 100.0% in the first quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 240 shares during the period. Institutional investors own 77.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RLI. Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $78.60.

Insiders Place Their Bets

In related news, COO Jennifer L. Klobnak purchased 3,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were purchased at an average price of $69.15 per share, with a total value of $207,450.00. Following the acquisition, the chief operating officer directly owned 98,450 shares of the company's stock, valued at approximately $6,807,817.50. This represents a 3.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.16% of the company's stock.

RLI Stock Performance

RLI stock opened at $68.5550 on Friday. The firm's 50 day simple moving average is $69.37 and its 200 day simple moving average is $73.55. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $6.30 billion, a PE ratio of 19.64 and a beta of 0.66. RLI Corp. has a 1-year low of $65.14 and a 1-year high of $91.14.

RLI (NYSE:RLI - Get Free Report) last posted its earnings results on Monday, July 21st. The insurance provider reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. The business had revenue of $562.28 million for the quarter, compared to analyst estimates of $445.55 million. RLI had a net margin of 17.81% and a return on equity of 15.82%. RLI's revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 EPS. As a group, analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 29th. RLI's dividend payout ratio is 18.34%.

RLI Company Profile

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.

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