The CEO, COO, and two directors buying simultaneously — even in small size — is a rare bullish cluster signal per the insider-buying literature (Cohen/Malloy/Pomorski). The historical calibration for this filing type shows an average net alpha of -1.04% at T+20, so keep position sizing modest. No immediate catalyst is apparent from this filing alone; monitor upcoming quarterly earnings for fundamental confirmation.
Price Chart
Executive Summary
Four RLI insiders, including the CEO and COO, made open-market purchases totaling $492K over a 5-day window in late May/early June 2026. The purchases represent ~0.011% of RLI's $4.6B market cap, a trivial amount per the proportionality check, but the insider cluster buys are academically among the strongest signals when C-suite executives participate.
Key Financial Metrics
Key Facts
- CEO Craig W. Kliethermes bought 2,000 shares at $52.00 ($104K) on 2026-05-27
- COO Jennifer L. Klobnak bought 2,000 shares at $52.72 ($105K) on 2026-05-27
- Director David B. Duclos bought 2,500 shares at $51.99 ($130K) on 2026-05-28
- Director Clark C. Kellogg bought 3,000 shares at $50.90 ($153K) on 2026-06-01
- Total cluster value: $492K — ~0.011% of RLI's $4.6B market cap
- No recent insider sales were filed in the cluster window
- Prior 30d insider activity: 6 buys totaling $859K, reinforcing a sustained buying pattern
Financial Impact
Insiders deployed $492K of personal capital; trivial relative to $4.6B market cap but notable as a coordinated C-suite + director cluster buy
Risk Factors
- Dollar amount is tiny at 0.011% of market cap — could be routine portfolio rebalancing
- Historical win rate on past RLI calls is only 40% at T+20 with negative net alpha
- Insurance sector faces competitive pricing pressure and catastrophe loss uncertainty
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-RLI-1780345967162 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 28, 2026 9w ago | 8-K | $65.10 $64.90 | ▼ −0.31% | ▼ −3.69% | $56.18 (−13.70%) |
Jun 25, 2026 14w ago | 8-K | $57.56 $61.16 | ▲ +6.25% | ▲ +4.99% | $56.18 (−2.40%) |
Jun 1, 2026 17w ago | Insider Cluster | $50.96 $60.66 | ▲ +19.03% | ▲ +20.60% | $56.18 (+10.24%) |
May 29, 2026 18w ago | Insider Cluster | $50.63 $59.07 | ▲ +16.67% | ▲ +17.97% | $56.18 (+10.96%) |
May 14, 2026 20w ago | 8-K | $49.88 $54.35 | ▲ +8.96% | ▲ +9.82% | $56.18 (+12.63%) |
Apr 28, 2026 22w ago | 8-K | $48.98 $49.32 | ▲ +0.68% | ▼ −5.36% | $56.18 (+14.69%) |
Apr 22, 2026 23w ago | 8-K | $54.94 $52.64 | ▲ +4.19% | ▲ +8.82% | $56.18 (−2.26%) |
Mar 26, 2026 27w ago | DEFA14A | $56.32 $51.45 | ▼ −8.65% | ▼ −21.39% | $56.18 (−0.25%) |
Feb 19, 2026 32w ago | Court Ruling | $60.81 $58.09 | ▼ −4.47% | ▼ −0.87% | $56.18 (−7.61%) |
US Market Status
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