RLI Corp. to Post Q2 2024 Earnings of $1.36 Per Share, William Blair Forecasts (NYSE:RLI)

RLI Corp. (NYSE:RLI - Free Report) - Equities research analysts at William Blair cut their Q2 2024 earnings per share estimates for shares of RLI in a research report issued to clients and investors on Tuesday, April 23rd. William Blair analyst A. Klauber now anticipates that the insurance provider will post earnings of $1.36 per share for the quarter, down from their previous forecast of $1.65. The consensus estimate for RLI's current full-year earnings is $5.64 per share. William Blair also issued estimates for RLI's Q3 2024 earnings at $1.26 EPS and Q4 2024 earnings at $1.44 EPS.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.26. The company had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. RLI had a return on equity of 17.24% and a net margin of 20.96%. RLI's revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 EPS.

RLI has been the subject of several other research reports. Compass Point boosted their price target on shares of RLI from $158.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday. Royal Bank of Canada increased their target price on RLI from $148.00 to $155.00 and gave the company a "sector perform" rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their price target on RLI from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. Finally, JMP Securities reiterated a "market perform" rating on shares of RLI in a report on Tuesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $163.25.

RLI Stock Down 1.7 %

Shares of RLI stock traded down $2.44 during trading hours on Friday, reaching $144.15. 144,447 shares of the stock were exchanged, compared to its average volume of 176,224. The business's fifty day moving average is $144.77 and its two-hundred day moving average is $139.01. The firm has a market capitalization of $6.59 billion, a P/E ratio of 19.91 and a beta of 0.37. RLI has a 12-month low of $123.04 and a 12-month high of $149.20. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.38.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Wednesday, February 28th. RLI's payout ratio is 14.92%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its holdings in shares of RLI by 2.7% during the first quarter. Louisiana State Employees Retirement System now owns 11,600 shares of the insurance provider's stock worth $1,722,000 after purchasing an additional 300 shares during the period. Wesbanco Bank Inc. purchased a new position in RLI during the 1st quarter worth $375,000. Norden Group LLC acquired a new stake in shares of RLI in the 1st quarter worth $200,000. State of Michigan Retirement System increased its stake in shares of RLI by 2.1% during the first quarter. State of Michigan Retirement System now owns 9,816 shares of the insurance provider's stock worth $1,457,000 after acquiring an additional 200 shares during the period. Finally, Oak Thistle LLC purchased a new position in RLI during the first quarter worth about $468,000. Institutional investors and hedge funds own 77.89% of the company's stock.

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.