Analysts Set Expectations for RLI Corp.’s Q3 2024 Earnings (NYSE:RLI)

RLI Corp. (NYSE:RLI) – Investment analysts at Zacks Research dropped their Q3 2024 EPS estimates for shares of RLI in a research note issued to investors on Monday, August 12th. Zacks Research analyst T. De now expects that the insurance provider will earn $0.89 per share for the quarter, down from their previous estimate of $1.03. The consensus estimate for RLI’s current full-year earnings is $6.05 per share. Zacks Research also issued estimates for RLI’s Q1 2025 earnings at $1.84 EPS, Q2 2025 earnings at $1.65 EPS, Q3 2025 earnings at $1.17 EPS, Q2 2026 earnings at $1.80 EPS and FY2026 earnings at $6.40 EPS.

Several other research firms also recently weighed in on RLI. Keefe, Bruyette & Woods lifted their target price on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. JMP Securities reiterated a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Jefferies Financial Group cut their target price on RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, June 14th. Compass Point cut 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, July 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $155.00 target price on shares of RLI in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $166.25.

RLI Stock Up 0.5 %

Shares of RLI opened at $148.80 on Wednesday. The company has a market cap of $6.80 billion, a PE ratio of 20.55 and a beta of 0.41. The business has a fifty day moving average of $142.71 and a 200 day moving average of $143.50. RLI has a 52-week low of $125.77 and a 52-week high of $151.47.

RLI (NYSE:RLI) last posted its earnings results on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.37. The firm had revenue of $416.44 million during the quarter, compared to the consensus estimate of $561.60 million. RLI had a return on equity of 18.33% and a net margin of 20.78%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS.

Institutional Investors Weigh In On RLI

Institutional investors and hedge funds have recently modified their holdings of the company. Commerce Bank increased its position in shares of RLI by 1.7% during the fourth quarter. Commerce Bank now owns 4,419 shares of the insurance provider’s stock worth $588,000 after purchasing an additional 75 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of RLI by 45.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of RLI by 5.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock valued at $230,000 after purchasing an additional 89 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of RLI by 3.8% in the 2nd quarter. Inspire Investing LLC now owns 2,502 shares of the insurance provider’s stock valued at $352,000 after purchasing an additional 92 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of RLI by 3.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,259 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, August 30th. RLI’s dividend payout ratio (DPR) is 16.02%.

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.