Q1 2024 EPS Estimates for RLI Corp. Boosted by Analyst (NYSE:RLI)

RLI Corp. (NYSE:RLI - Free Report) - Investment analysts at Zacks Research raised their Q1 2024 earnings estimates for RLI in a research report issued on Tuesday, April 2nd. Zacks Research analyst T. De now expects that the insurance provider will earn $1.55 per share for the quarter, up from their prior forecast of $1.50. The consensus estimate for RLI's current full-year earnings is $5.54 per share. Zacks Research also issued estimates for RLI's Q2 2024 earnings at $1.36 EPS, Q4 2024 earnings at $1.44 EPS, FY2024 earnings at $5.34 EPS, Q1 2025 earnings at $1.53 EPS, Q2 2025 earnings at $1.95 EPS, Q3 2025 earnings at $0.62 EPS, Q4 2025 earnings at $1.53 EPS, FY2025 earnings at $5.63 EPS, Q1 2026 earnings at $1.82 EPS and FY2026 earnings at $6.26 EPS.

Separately, Royal Bank of Canada restated a "sector perform" rating and issued a $148.00 target price on shares of RLI in a report on Friday, January 26th.

RLI Stock Performance

RLI stock traded down $1.04 on Thursday, hitting $145.71. The company had a trading volume of 135,317 shares, compared to its average volume of 178,960. RLI has a 12-month low of $123.04 and a 12-month high of $149.65. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock's 50-day simple moving average is $143.94 and its 200 day simple moving average is $138.56. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 22.03 and a beta of 0.37.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The insurance provider reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.10. RLI had a net margin of 20.15% and a return on equity of 17.02%. The firm had revenue of $433.52 million for the quarter, compared to analysts' expectations of $423.12 million. During the same quarter in the prior year, the company posted $1.53 earnings per share. The business's revenue for the quarter was up 20.2% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp boosted its stake in shares of RLI by 1.9% during the 1st quarter. State Street Corp now owns 4,723,116 shares of the insurance provider's stock worth $522,518,000 after acquiring an additional 89,655 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of RLI by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,659,752 shares of the insurance provider's stock worth $477,065,000 after acquiring an additional 96,189 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of RLI by 0.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,866,768 shares of the insurance provider's stock worth $381,022,000 after acquiring an additional 20,035 shares during the last quarter. Morgan Stanley boosted its stake in shares of RLI by 524.0% during the 4th quarter. Morgan Stanley now owns 1,364,598 shares of the insurance provider's stock worth $179,131,000 after acquiring an additional 1,145,896 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of RLI by 6.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,176,561 shares of the insurance provider's stock worth $156,377,000 after acquiring an additional 71,545 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company's stock.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Wednesday, February 28th. RLI's dividend payout ratio is presently 16.31%.

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.