Zacks Research Analysts Boost Earnings Estimates for RLI Corp. (NYSE:RLI)

RLI Corp. (NYSE:RLIFree Report) – Analysts at Zacks Research boosted their Q3 2024 earnings per share estimates for shares of RLI in a research report issued to clients and investors on Thursday, May 9th. Zacks Research analyst T. De now forecasts that the insurance provider will post earnings per share of $1.03 for the quarter, up from their previous estimate of $1.00. The consensus estimate for RLI’s current full-year earnings is $5.83 per share. Zacks Research also issued estimates for RLI’s Q4 2024 earnings at $1.48 EPS, FY2024 earnings at $5.73 EPS, FY2025 earnings at $5.88 EPS and FY2026 earnings at $6.18 EPS.

Several other equities analysts have also recently weighed in on RLI. Royal Bank of Canada raised their price objective on RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a report on Wednesday, April 24th. JMP Securities restated a “market perform” rating on shares of RLI in a report on Tuesday, April 23rd. Compass Point raised their price objective on RLI from $158.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods raised their price objective on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.25.

View Our Latest Stock Analysis on RLI

RLI Trading Up 0.4 %

RLI stock opened at $145.67 on Monday. The stock has a market cap of $6.66 billion, a PE ratio of 20.13 and a beta of 0.37. The stock has a 50-day moving average price of $144.63 and a two-hundred day moving average price of $139.80. RLI has a 1 year low of $123.04 and a 1 year high of $149.20.

RLI (NYSE:RLIGet Free Report) last released its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. The firm had revenue of $444.80 million during the quarter, compared to analysts’ expectations of $460.05 million. RLI had a return on equity of 17.24% and a net margin of 20.96%. The company’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 31st. This is an increase from RLI’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 0.80%. RLI’s dividend payout ratio (DPR) is 14.92%.

Institutional Investors Weigh In On RLI

Several hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd lifted its position in RLI by 10.2% during the first quarter. Quadrature Capital Ltd now owns 9,886 shares of the insurance provider’s stock worth $1,468,000 after acquiring an additional 918 shares during the last quarter. Maren Capital LLC raised its position in shares of RLI by 21.3% in the first quarter. Maren Capital LLC now owns 612,081 shares of the insurance provider’s stock valued at $90,876,000 after buying an additional 107,655 shares in the last quarter. Natixis acquired a new stake in shares of RLI in the first quarter valued at approximately $742,000. CANADA LIFE ASSURANCE Co raised its position in shares of RLI by 0.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 25,815 shares of the insurance provider’s stock valued at $3,832,000 after buying an additional 128 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in shares of RLI by 10.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,933 shares of the insurance provider’s stock valued at $584,000 after buying an additional 371 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

About RLI

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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.

See Also

Earnings History and Estimates for RLI (NYSE:RLI)

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