William Blair Research Analysts Reduce Earnings Estimates for RLI Corp. (NYSE:RLI)

RLI Corp. (NYSE:RLI) – Analysts at William Blair decreased their Q2 2024 earnings per share estimates for shares of RLI in a research report issued on Tuesday, April 23rd. William Blair analyst A. Klauber now expects that the insurance provider will earn $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.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada increased their price objective on RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a report on Wednesday. Compass Point increased their price objective on RLI from $158.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday. Finally, Keefe, Bruyette & Woods increased their price objective on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, RLI has a consensus rating of “Moderate Buy” and an average price target of $163.25.

RLI Price Performance

Shares of NYSE RLI opened at $146.51 on Friday. The stock’s 50-day moving average is $144.72 and its two-hundred day moving average is $138.97. 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 has a 1-year low of $123.04 and a 1-year high of $149.20. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 20.24 and a beta of 0.37.

RLI (NYSE:RLI) 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. RLI had a return on equity of 17.24% and a net margin of 20.96%. The company had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. During the same quarter in the prior year, the business earned $1.63 EPS. RLI’s revenue was up 21.9% on a year-over-year basis.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.74%. RLI’s dividend payout ratio (DPR) is presently 14.92%.

Institutional Trading of RLI

A number of large investors have recently made changes to their positions in RLI. AE Wealth Management LLC boosted its position in shares of RLI by 28.3% in the 3rd quarter. AE Wealth Management LLC now owns 9,976 shares of the insurance provider’s stock valued at $1,356,000 after purchasing an additional 2,199 shares during the period. SG Americas Securities LLC acquired a new stake in RLI during the 3rd quarter worth approximately $734,000. State of Alaska Department of Revenue lifted its position in RLI by 34.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,760 shares of the insurance provider’s stock worth $918,000 after acquiring an additional 1,733 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in RLI during the 3rd quarter worth approximately $217,000. Finally, Harbor Capital Advisors Inc. lifted its position in RLI by 12.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,072 shares of the insurance provider’s stock worth $146,000 after acquiring an additional 120 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

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.