Should You Consider Buying RLI Corp. (RLI) Stock?

Investment management company First Pacific Advisors recently released its “Queens Road Small Cap Value Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the quarter, the fund outperformed its benchmark index and returned -11.46% compared to a -15.28% return for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, First Pacific Advisors discussed stocks like RLI Corp. (NYSE:RLI). Headquartered in Peoria, Illinois, RLI Corp. (NYSE:RLI) is an insurance company that provides property and casualty insurance. On August 26, 2022, RLI Corp. (NYSE:RLI) stock closed at $114.12 per share. One-month return of RLI Corp. (NYSE:RLI) was 3.22%, and its shares gained 4.15% of their value over the last 52 weeks. RLI Corp. (RLI) has a market capitalization of $5.177 billion.

Here is what First Pacific Advisors specifically said about RLI Corp. (NYSE:RLI):

“RLI Corp. (NYSE:RLI) is an Illinois-based specialty insurer with a conservative underwriting culture that routinely puts up a market-leading industry metrics. We think the 9% insider ownership and unique use of the employee stock ownership plan (ESOP) helps align incentives and protect against losses.”

docstockmedia/Shutterstock.com

RLI Corp. (NYSE:RLI) is not on the list of 30 Most Popular Stocks Among Hedge Funds. RLI Corp. (NYSE:RLI) was held by 19 hedge fund portfolios at the end of the second quarter compared to 21 in the previous quarter. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.