Whittier Trust Co. Acquires 4,677 Shares of RLI Corp. $RLI

Key Points

• Whittier Trust Co. increased its stake in RLI Corp. by 2.5%, acquiring an additional 4,677 shares to bring its total holdings to 189,508 shares valued at approximately $13.7 million.
• Several large investors, including Vanguard Group Inc. and Kayne Anderson Rudnick Investment Management LLC, significantly boosted their stakes in RLI during the first quarter, reflecting growing institutional interest in the company.
• RLI Corp. reported earnings of $0.83 per share for the last quarter, exceeding analysts' expectations and indicating a strong performance compared to the prior year's EPS of $1.31.

Whittier Trust Co. boosted its holdings in RLI Corp. (NYSE:RLI - Free Report) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 189,508 shares of the insurance provider's stock after acquiring an additional 4,677 shares during the period. Whittier Trust Co. owned 0.21% of RLI worth $13,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RLI. Vanguard Group Inc. raised its stake in RLI by 95.2% in the 1st quarter. Vanguard Group Inc. now owns 8,996,643 shares of the insurance provider's stock valued at $722,700,000 after acquiring an additional 4,388,400 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in RLI by 117.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,226,797 shares of the insurance provider's stock valued at $419,869,000 after acquiring an additional 2,817,616 shares during the period. Neuberger Berman Group LLC raised its stake in RLI by 106.6% in the 1st quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider's stock valued at $220,967,000 after acquiring an additional 1,419,212 shares during the period. Markel Group Inc. raised its stake in RLI by 100.0% in the 1st quarter. Markel Group Inc. now owns 2,394,544 shares of the insurance provider's stock valued at $192,354,000 after acquiring an additional 1,197,272 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in RLI by 97.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider's stock valued at $149,569,000 after acquiring an additional 920,799 shares during the period. Institutional investors own 77.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Truist Financial set a $62.00 price objective on RLI and gave the company a "hold" rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of RLI in a report on Wednesday, October 8th. Finally, Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $72.80.

RLI Stock Performance

RLI opened at $59.74 on Tuesday. The firm has a market cap of $5.49 billion, a P/E ratio of 17.12 and a beta of 0.60. RLI Corp. has a 52-week low of $59.01 and a 52-week high of $91.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35. The business's fifty day moving average is $65.60 and its 200-day moving average is $70.28.

RLI (NYSE:RLI - Get Free Report) last released its earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.21. The company had revenue of $510.22 million for the quarter, compared to analyst estimates of $444.75 million. RLI had a return on equity of 15.82% and a net margin of 17.81%.During the same period in the prior year, the firm posted $1.31 EPS. Sell-side analysts expect that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 annualized dividend and a yield of 1.1%. RLI's dividend payout ratio (DPR) is 18.34%.

Insiders Place Their Bets

In other RLI news, COO Jennifer L. Klobnak acquired 3,000 shares of RLI stock in a transaction that occurred on Thursday, July 24th. The shares were acquired at an average cost of $69.15 per share, with a total value of $207,450.00. Following the completion of the purchase, the chief operating officer directly owned 98,450 shares of the company's stock, valued at $6,807,817.50. This represents a 3.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.16% of the stock is owned by company insiders.

RLI 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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