What is Zacks Research’s Forecast for RLI FY2024 Earnings?

RLI Corp. (NYSE:RLI) – Investment analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for RLI in a report released on Thursday, November 7th. Zacks Research analyst T. De now anticipates that the insurance provider will earn $5.93 per share for the year, down from their previous 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.

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

Other research analysts have also recently issued reports about the company. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Royal Bank of Canada increased their price target on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Compass Point increased their price target on RLI from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Oppenheimer started coverage on RLI in a research report on Wednesday, October 16th. They set a “market perform” rating for the company. Finally, Jefferies Financial Group increased their price target on RLI from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.40.

RLI Price Performance

RLI stock opened at $172.09 on Monday. The stock has a market capitalization of $7.89 billion, a P/E ratio of 18.91 and a beta of 0.41. The business has a 50-day moving average of $156.60 and a 200-day moving average of $148.75. RLI has a fifty-two week low of $125.77 and a fifty-two week high of $173.02.

RLI shares are set 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 payable to shareholders after the market closes on Wednesday, January 15th.

Institutional Trading of RLI

A number of hedge funds have recently made changes to their positions in RLI. Klein Pavlis & Peasley Financial Inc. increased its stake in shares of RLI by 1.2% during the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider’s stock worth $892,000 after purchasing an additional 68 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of 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 purchasing an additional 77 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of RLI by 5.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock worth $230,000 after purchasing an additional 89 shares during the period. Inspire Investing LLC raised its holdings in 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 acquiring an additional 92 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its position in shares of RLI by 2.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,723 shares of the insurance provider’s stock valued at $577,000 after acquiring an additional 95 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Increases Dividend

The firm also recently disclosed a None dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be given a $4.29 dividend. This is a boost from RLI’s previous None dividend of $2.25. The ex-dividend date is Friday, November 29th. RLI’s dividend payout ratio (DPR) is presently 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.