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

RLI Corp. (NYSE:RLI) – Zacks Research raised their Q4 2023 EPS estimates for RLI in a report issued on Thursday, November 2nd. Zacks Research analyst T. De now anticipates that the insurance provider will post earnings per share of $1.38 for the quarter, up from their prior forecast of $1.34. The consensus estimate for RLI’s current full-year earnings is $4.60 per share. Zacks Research also issued estimates for RLI’s Q1 2024 earnings at $1.41 EPS, Q2 2024 earnings at $1.31 EPS, FY2024 earnings at $5.13 EPS, Q2 2025 earnings at $1.28 EPS, Q3 2025 earnings at $1.32 EPS and FY2025 earnings at $5.15 EPS.

RLI has been the topic of several other reports. Royal Bank of Canada cut their target price on RLI from $151.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 25th. Compass Point increased their target price on RLI from $165.00 to $170.00 in a research report on Thursday, July 27th. Jefferies Financial Group began coverage on RLI in a research report on Thursday, September 7th. They issued a “buy” rating and a $155.00 target price on the stock. Finally, StockNews.com began coverage on RLI in a report on Thursday, October 5th. They issued a “hold” rating for the company.

RLI Trading Up 0.6 %

Shares of RLI opened at $135.12 on Friday. The firm has a market capitalization of $6.17 billion, a P/E ratio of 21.58 and a beta of 0.39. The stock’s fifty day simple moving average is $135.00 and its 200 day simple moving average is $134.24. RLI has a twelve month low of $123.04 and a twelve month high of $149.65.

RLI (NYSE:RLI) last issued its earnings results on Tuesday, October 24th. The insurance provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.53. The business had revenue of $331.69 million for the quarter, compared to analyst estimates of $377.71 million. RLI had a return on equity of 17.75% and a net margin of 20.00%. During the same period last year, the company posted $0.50 EPS.

Institutional Trading of RLI

Several large investors have recently added to or reduced their stakes in RLI. Ameritas Investment Partners Inc. grew its stake in shares of RLI by 0.6% during the first quarter. Ameritas Investment Partners Inc. now owns 13,520 shares of the insurance provider’s stock valued at $1,797,000 after acquiring an additional 74 shares in the last quarter. Signaturefd LLC grew its stake in shares of RLI by 15.4% during the first quarter. Signaturefd LLC now owns 578 shares of the insurance provider’s stock valued at $77,000 after acquiring an additional 77 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in shares of RLI by 1.7% during the third quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider’s stock valued at $642,000 after acquiring an additional 77 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of RLI by 0.3% during the first quarter. Commonwealth Equity Services LLC now owns 33,576 shares of the insurance provider’s stock valued at $4,462,000 after acquiring an additional 87 shares in the last quarter. Finally, Advisor Partners II LLC grew its stake in shares of RLI by 2.2% during the first quarter. Advisor Partners II LLC now owns 4,038 shares of the insurance provider’s stock valued at $537,000 after acquiring an additional 87 shares in the last quarter. 79.23% of the stock is currently owned by institutional investors and hedge funds.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Thursday, August 31st were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.08 annualized dividend and a yield of 0.80%. RLI’s dividend payout ratio is currently 17.25%.

About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.