Zacks Research Has Negative Outlook for RLI FY2024 Earnings

RLI Corp. (NYSE:RLI) – Analysts at Zacks Research reduced their FY2024 earnings per share estimates for RLI in a report released 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 previous estimate 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.

A number of other brokerages have also recently issued reports on RLI. Keefe, Bruyette & Woods increased their price objective on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Wolfe Research began coverage on RLI in a research note on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price target for the company. Compass Point boosted their price objective on RLI from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Oppenheimer assumed coverage on RLI in a research note on Wednesday, October 16th. They issued a “market perform” rating for the company. Finally, JMP Securities reissued a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, RLI currently has an average rating of “Moderate Buy” and a consensus target price of $177.40.

RLI Price Performance

NYSE:RLI opened at $175.02 on Monday. RLI has a one year low of $125.77 and a one year high of $175.07. The business has a fifty day moving average price of $156.99 and a 200-day moving average price of $148.95. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 19.23 and a beta of 0.41.

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

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

Institutional Trading of RLI

Several hedge funds have recently modified their holdings of the company. Klein Pavlis & Peasley Financial Inc. raised its position in shares of RLI by 1.2% during the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider’s stock valued at $892,000 after buying an additional 68 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in RLI by 45.6% during the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 77 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in RLI by 5.8% during the second 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 period. 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, OneDigital Investment Advisors LLC boosted its holdings in shares of RLI by 2.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,723 shares of the insurance provider’s stock worth $577,000 after purchasing an additional 95 shares during the period. 77.89% of the stock is owned by hedge funds and other institutional investors.

RLI Increases Dividend

The company also recently announced a None dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be issued a $4.29 dividend. This represents a dividend 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%.

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.