SG Americas Securities LLC Lowers Position in RLI Corp. $RLI

Key Points

• SG Americas Securities LLC cut its RLI Corp. position by 48.3% in the first quarter, leaving it with 17,581 shares valued at about $1.0 million.
• Analysts are mixed on RLI: recent downgrades from Weiss Ratings and Wall Street Zen helped keep the stock at an average Hold rating, with a consensus price target of $61.50.
• RLI reported quarterly EPS of $0.83, topping estimates, and also raised its dividend to $0.18 per share, which annualizes to a 1.2% yield.

SG Americas Securities LLC trimmed its position in shares of RLI Corp. (NYSE:RLI - Free Report) by 48.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,581 shares of the insurance provider's stock after selling 16,428 shares during the quarter. SG Americas Securities LLC's holdings in RLI were worth $1,003,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Diversified Trust Co boosted its holdings in RLI by 4.0% in the 1st quarter. Diversified Trust Co now owns 14,434 shares of the insurance provider's stock valued at $823,000 after purchasing an additional 551 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of RLI by 5.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 11,805 shares of the insurance provider's stock worth $755,000 after buying an additional 595 shares in the last quarter. World Investment Advisors raised its stake in shares of RLI by 29.6% during the 4th quarter. World Investment Advisors now owns 6,212 shares of the insurance provider's stock worth $397,000 after buying an additional 1,420 shares in the last quarter. Brighton Securities CORP. lifted its holdings in shares of RLI by 14.8% in the 4th quarter. Brighton Securities CORP. now owns 3,454 shares of the insurance provider's stock valued at $221,000 after buying an additional 445 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of RLI by 1,005.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,267 shares of the insurance provider's stock valued at $145,000 after buying an additional 2,062 shares during the period. 77.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Weiss Ratings lowered RLI from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 22nd. Zacks Research raised RLI from a "strong sell" rating to a "hold" rating in a report on Thursday, April 2nd. Wells Fargo & Company reduced their target price on RLI from $59.00 to $55.00 and set an "equal weight" rating for the company in a report on Thursday, April 9th. Finally, Wall Street Zen lowered shares of RLI from a "hold" rating to a "sell" rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $61.50.

Insider Transactions at RLI

In other news, COO Jennifer L. Klobnak purchased 2,000 shares of the business's stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average price of $53.42 per share, with a total value of $106,840.00. Following the purchase, the chief operating officer directly owned 102,318 shares of the company's stock, valued at $5,465,827.56. This represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Craig W. Kliethermes acquired 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average price of $52.00 per share, for a total transaction of $260,000.00. Following the completion of the transaction, the chief executive officer directly owned 148,990 shares in the company, valued at approximately $7,747,480. This represents a 3.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 16,500 shares of company stock worth $858,955. Corporate insiders own 2.39% of the company's stock.

RLI Price Performance

Shares of NYSE:RLI opened at $62.51 on Friday. The business's 50 day simple moving average is $52.90 and its 200-day simple moving average is $57.85. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 14.60 and a beta of 0.38. RLI Corp. has a 12 month low of $47.26 and a 12 month high of $72.12.

RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.10. The firm had revenue of $423.87 million during the quarter, compared to the consensus estimate of $564.47 million. RLI had a return on equity of 17.72% and a net margin of 20.81%.RLI's quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. On average, equities analysts anticipate that RLI Corp. will post 2.75 earnings per share for the current 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 issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.2%. This is a positive change from RLI's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, May 29th. RLI's dividend payout ratio is currently 16.82%.

RLI Company 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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