Zacks Research Comments on RLI Corp.’s Q2 2024 Earnings (NYSE:RLI)

RLI Corp. (NYSE:RLI) – Analysts at Zacks Research lifted their Q2 2024 earnings per share (EPS) estimates for RLI in a research report issued to clients and investors on Monday, July 22nd. Zacks Research analyst T. De now forecasts that the insurance provider will post earnings of $1.35 per share for the quarter, up from their previous forecast of $1.34. The consensus estimate for RLI’s current full-year earnings is $5.84 per share. Zacks Research also issued estimates for RLI’s FY2025 earnings at $5.93 EPS and Q2 2026 earnings at $1.63 EPS.

RLI (NYSE:RLI) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.37. RLI had a net margin of 20.78% and a return on equity of 18.89%. The firm had revenue of $416.44 million for the quarter, compared to the consensus estimate of $561.60 million. During the same quarter in the previous year, the firm earned $1.16 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year.

Several other brokerages also recently weighed in on RLI. Compass Point dropped their target price on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday. JMP Securities restated a “market perform” rating on shares of RLI in a report on Tuesday. Jefferies Financial Group lowered their target price on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price target on shares of RLI in a research note on Friday, June 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $155.00 price objective on shares of RLI in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.50.

RLI Trading Up 0.8 %

NYSE RLI opened at $142.80 on Wednesday. RLI has a 12-month low of $125.77 and a 12-month high of $149.20. The firm’s fifty day simple moving average is $141.91 and its two-hundred day simple moving average is $142.73. The firm has a market capitalization of $6.53 billion, a P/E ratio of 19.72 and a beta of 0.41.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.81%. This is a boost from RLI’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, May 31st. RLI’s payout ratio is presently 16.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RLI. Brookstone Capital Management lifted its holdings in shares of RLI by 6.4% in the 4th quarter. Brookstone Capital Management now owns 1,906 shares of the insurance provider’s stock valued at $254,000 after buying an additional 114 shares during the period. SG Americas Securities LLC lifted its holdings in RLI by 24.7% in the fourth quarter. SG Americas Securities LLC now owns 6,732 shares of the insurance provider’s stock valued at $896,000 after acquiring an additional 1,332 shares during the period. Pacer Advisors Inc. boosted its position in RLI by 32.4% in the 4th quarter. Pacer Advisors Inc. now owns 8,756 shares of the insurance provider’s stock worth $1,166,000 after purchasing an additional 2,141 shares in the last quarter. Nepsis Inc. acquired a new stake in shares of RLI during the 4th quarter worth approximately $9,424,000. Finally, Blue Trust Inc. purchased a new position in shares of RLI during the 4th quarter valued at approximately $25,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Company Profile

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.