Equities Analysts Issue Forecasts for RLI FY2024 Earnings

RLI Corp. (NYSE:RLI) – Equities researchers at Zacks Research dropped their FY2024 earnings estimates for RLI in a research note issued on Thursday, November 7th. Zacks Research analyst T. De now expects that the insurance provider will post earnings per share of $5.93 for the year, down from their prior forecast of $6.09. The consensus estimate for RLI’s current full-year earnings is $5.85 per share. Zacks Research also issued estimates for RLI’s Q1 2025 earnings at $1.86 EPS, Q2 2025 earnings at $1.62 EPS, Q3 2025 earnings at $1.13 EPS, Q4 2025 earnings at $1.59 EPS, FY2025 earnings at $6.20 EPS, Q1 2026 earnings at $1.37 EPS, Q2 2026 earnings at $1.73 EPS, Q3 2026 earnings at $1.33 EPS and FY2026 earnings at $6.31 EPS.

Other equities research analysts have also issued reports about the stock. Compass Point lifted their price target on shares of RLI from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Oppenheimer assumed coverage on RLI in a research note on Wednesday, October 16th. They issued a “market perform” rating for the company. Wolfe Research started coverage on RLI in a research note on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on shares of RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $177.40.

RLI Stock Up 1.0 %

NYSE:RLI opened at $173.73 on Monday. The company has a market cap of $7.96 billion, a P/E ratio of 19.08 and a beta of 0.41. RLI has a twelve month low of $125.77 and a twelve month high of $174.74. The business has a 50 day moving average price of $156.60 and a two-hundred day moving average price of $148.76.

Shares of RLI are going to split on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, January 15th.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.33. The firm had revenue of $470.00 million for the quarter, compared to the consensus estimate of $491.54 million. RLI had a return on equity of 19.03% and a net margin of 23.77%. The company’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS.

RLI Increases Dividend

The business also recently disclosed a None dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a dividend of $4.29 per share. This represents a yield of 0.7%. This is a boost from RLI’s previous None dividend of $2.25. The ex-dividend date is Friday, November 29th. RLI’s payout ratio is 12.75%.

Hedge Funds Weigh In On RLI

Several institutional investors and hedge funds have recently made changes to their positions in RLI. Jacobs Levy Equity Management Inc. boosted its holdings in RLI by 237.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 207,883 shares of the insurance provider’s stock valued at $30,864,000 after purchasing an additional 146,324 shares during the period. Maren Capital LLC increased 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 worth $90,876,000 after purchasing an additional 107,655 shares during the period. Russell Investments Group Ltd. lifted its position in RLI by 585.0% during the first quarter. Russell Investments Group Ltd. now owns 41,649 shares of the insurance provider’s stock worth $6,184,000 after purchasing an additional 35,569 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of RLI by 2,611.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 34,838 shares of the insurance provider’s stock valued at $4,901,000 after buying an additional 33,553 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of RLI by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 265,365 shares of the insurance provider’s stock worth $39,400,000 after acquiring an additional 33,435 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

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.