Maren Capital LLC Boosts Position in RLI Corp. (NYSE:RLI)

Maren Capital LLC grew its stake in RLI Corp. (NYSE:RLI) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700,603 shares of the insurance provider’s stock after buying an additional 25,874 shares during the period. RLI makes up about 8.8% of Maren Capital LLC’s holdings, making the stock its 4th biggest holding. Maren Capital LLC owned 0.76% of RLI worth $115,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in RLI. Invesco Ltd. raised its position in RLI by 4.7% during the fourth quarter. Invesco Ltd. now owns 665,395 shares of the insurance provider’s stock valued at $109,677,000 after purchasing an additional 29,704 shares in the last quarter. 2Xideas AG grew its holdings in shares of RLI by 48.4% during the 4th quarter. 2Xideas AG now owns 80,923 shares of the insurance provider’s stock valued at $13,339,000 after purchasing an additional 26,411 shares during the last quarter. Federated Hermes Inc. boosted its holdings in RLI by 4.4% during the 4th quarter. Federated Hermes Inc. now owns 104,071 shares of the insurance provider’s stock valued at $17,154,000 after acquiring an additional 4,411 shares during the period. Russell Investments Group Ltd. increased its stake in RLI by 18.7% in the 4th quarter. Russell Investments Group Ltd. now owns 43,756 shares of the insurance provider’s stock worth $7,213,000 after purchasing an additional 6,879 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of RLI by 1.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 101,804 shares of the insurance provider’s stock valued at $16,780,000 after purchasing an additional 1,731 shares during the period. Institutional investors own 77.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RLI shares. Compass Point lowered their price target on shares of RLI from $185.00 to $82.00 and set a “buy” rating for the company in a report on Monday, January 27th. Jefferies Financial Group downgraded RLI from a “buy” rating to an “underperform” rating and reduced their price target for the company from $95.00 to $61.00 in a report on Monday, January 27th. Royal Bank of Canada dropped their price objective on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. StockNews.com upgraded RLI from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Keefe, Bruyette & Woods cut their price target on shares of RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $82.80.

Insider Buying and Selling at RLI

In other news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $74.89, for a total transaction of $214,484.96. Following the transaction, the director now owns 23,312 shares in the company, valued at $1,745,835.68. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey D. Fick acquired 2,000 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were acquired at an average price of $72.13 per share, with a total value of $144,260.00. Following the completion of the purchase, the insider now owns 142,061 shares in the company, valued at approximately $10,246,859.93. This trade represents a 1.43 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 11,200 shares of company stock worth $805,774 over the last quarter. Insiders own 5.09% of the company’s stock.

RLI Price Performance

NYSE:RLI opened at $76.75 on Monday. The business’s 50-day moving average is $76.06 and its 200 day moving average is $79.57. RLI Corp. has a 12 month low of $67.53 and a 12 month high of $91.15. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $7.04 billion, a P/E ratio of 20.49 and a beta of 0.49.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.63%. On average, equities research analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from RLI’s previous quarterly dividend of $0.15. RLI’s dividend payout ratio (DPR) is 16.00%.

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.