Susquehanna Fundamental Investments LLC Sells 25,300 Shares of RLI Corp. $RLI

Key Points

• Susquehanna Fundamental Investments cut its RLI position by 52.7%, selling 25,300 shares and retaining 22,688 shares valued at approximately $1.34 million. Institutional investors collectively own 77.89% of the insurer.
• 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 maintained a quarterly dividend of $0.18 per share, equivalent to a 1.1% yield.
• Analyst sentiment remains mixed, with ratings ranging from outperform to underperform. MarketBeat reports a consensus rating of “Reduce” and an average price target of $63.20, near the stock’s $63.35 opening price.

Susquehanna Fundamental Investments LLC lessened its position in RLI Corp. (NYSE:RLI - Free Report) by 52.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,688 shares of the insurance provider's stock after selling 25,300 shares during the quarter. Susquehanna Fundamental Investments LLC's holdings in RLI were worth $1,340,000 at the end of the most recent reporting period.

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

RLI Price Performance

NYSE:RLI opened at $63.35 on Wednesday. RLI Corp. has a 1-year low of $47.26 and a 1-year high of $68.29. The company has a 50-day moving average of $62.08 and a 200 day moving average of $58.17. The firm has a market cap of $5.81 billion, a PE ratio of 13.31 and a beta of 0.38.

RLI (NYSE:RLI - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 EPS for the quarter, beating 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 business had revenue of $575.57 million for the quarter, compared to the consensus estimate of $568.70 million. During the same quarter last year, the firm posted $0.82 EPS. The company's revenue for the quarter was up 15.2% on a year-over-year basis. Sell-side analysts anticipate that RLI Corp. will post 2.88 EPS for the current fiscal year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. RLI's dividend payout ratio is currently 15.13%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RLI shares. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $74.00 target price (up from $70.00) on shares of RLI in a research note on Tuesday, July 28th. Wells Fargo & Company cut shares of RLI from an "equal weight" rating to an "underweight" rating and set a $57.00 price target on the stock. in a report on Wednesday, July 29th. Jefferies Financial Group lowered shares of RLI from a "hold" rating to an "underperform" rating and set a $53.00 price objective for the company. in a report on Tuesday, August 25th. Finally, Weiss Ratings upgraded shares of RLI from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $63.20.

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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