Q2 2024 EPS Estimates for RLI Corp. Lowered by Analyst (NYSE:RLI)

RLI Corp. (NYSE:RLI) – Equities research analysts at William Blair decreased their Q2 2024 earnings estimates for RLI in a research note issued on Tuesday, April 23rd. William Blair analyst A. Klauber now forecasts that the insurance provider will earn $1.36 per share for the quarter, down from their previous forecast of $1.65. The consensus estimate for RLI’s current full-year earnings is $5.64 per share. William Blair also issued estimates for RLI’s Q3 2024 earnings at $1.26 EPS and Q4 2024 earnings at $1.44 EPS.

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

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

RLI Stock Down 1.7 %

RLI stock opened at $144.15 on Friday. The business’s fifty day moving average price is $144.77 and its two-hundred day moving average price is $139.01. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 19.91 and a beta of 0.37. RLI has a fifty-two week low of $123.04 and a fifty-two week high of $149.20. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.38.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Blue Trust Inc. bought a new position in shares of RLI in the 4th quarter valued at $25,000. Gladius Capital Management LP raised its position in RLI by 129.7% during the 3rd quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 153 shares during the last quarter. Riverview Trust Co bought a new stake in shares of RLI in the 1st quarter valued at about $44,000. GAMMA Investing LLC bought a new stake in shares of RLI in the 4th quarter valued at about $41,000. Finally, Quantbot Technologies LP acquired a new stake in shares of RLI in the third quarter valued at about $60,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.75%. RLI’s dividend payout ratio (DPR) is currently 14.92%.

About RLI

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.