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RLI Corp. (NYSE:RLI – Get Rating) – Research analysts at William Blair released estimates of first quarter 2024 EPS for shares of RLI in a research report published Thursday, Jan. 26. William Blair analyst A. Klauber expects the insurer to post his earnings per share of $1.39 in the quarter. RLI’s current consensus estimate for annual earnings is $4.45 per share. William Blair also estimates RLI’s second-quarter 2024 earnings at EPS of $1.19, third-quarter 2024 earnings at EPS of $1.04, and fourth-quarter 2024 earnings at EPS of $1.26.
RLI (NYSE: RLI – Get Rating) last reported earnings on Wednesday, January 25th. Insurers reported EPS of $1.53 for the quarter, beating consensus expectations of $1.08 by $0.45. RLI’s net profit margin was 34.36% and return on equity was 18.99%. The company’s revenue for the quarter was $360.59 million, compared to analysts’ expectations of $323.92 million. During the same quarter last year, the company earned his EPS of $1.26. The company’s quarterly revenue increased by 11.5% compared to the same quarter last year.
RLI has been the topic of several other research reports. Royal Bank of Canada raised its price target on RLI shares to $136.00 from $123.00, giving it a ‘Sector Performing’ rating in its research report on Friday. Compass Point lowered its price target on RLI stock to $150.00 in its research report on Wednesday, October 5th. Finally, StockNews.com featured his shares in RLI in its report on Wednesday, October 12th. They issued a “Hold” rating on the stock.
RLI price performance
RLI shares opened at $130.38 on Monday. The RLI has a 52-week low of $96.22 and a 52-week high of $140.69. The company has a 50-day moving average price of $131.97 and a 200-day moving average price of $120.63. The company has a quick ratio of 0.56, a current ratio of 0.37 and a debt to equity ratio of 0.17. The stock has a market cap of $5.92 billion, a PER of 10.23 and a beta of 0.46.
RLI Increases Dividend
The company recently announced its quarterly dividend, which was paid on Tuesday, December 20th. A dividend of $7.26 was paid out to investors of record on Wednesday, November 30th. This represents a dividend of $29.04 and a yield of 22.27% for him on an annual basis. This is a positive change from RLI’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, November 29. RLI’s payout percentage is currently 8.16%.
institution inflow and outflow
A number of hedge funds have recently bought and sold shares of RLI. Mackenzie Financial Corp expanded his RLI stock position by 4.3% in the first quarter. Mackenzie Financial Corp now owns 2,171 shares of the insurance company worth $240,000 after buying an additional 89 of his shares last quarter. Lazard Asset Management LLC expanded his RLI stock position by 1.0% in the first quarter. Lazard Asset Management LLC now owns 8,927 shares of the insurance company’s stock valued at $986,000 after purchasing an additional 89 shares last quarter. Securian Asset Management Inc. expanded his RLI stock position by 2.8% in the second quarter. Securian Asset Management Inc. now owns 3,641 shares of the insurance company worth $425,000 after purchasing an additional 100 shares last quarter. The State of Michigan Retirement System expanded its position in RLI stock by 1.0% in the third quarter. The State of Michigan Retirement System now owns 10,216 shares of insurance company stock worth $1,046,000 after purchasing an additional 100 shares last quarter. Finally, the Louisiana Employee Retirement Plan increased its position in RLI stock by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 10,800 shares of insurance company stock worth $1,418,000 after purchasing an additional 100 shares last quarter. 80.24% of the shares are currently owned by hedge funds and other institutional investors.
About RLI
(get rating)
RLI Corp. operates as a holding company engaged in the provision of insurance and underwriting services. It operates through the following segments: Casualty, Property, and Surety. The General Insurance segment provides medical and transportation insurance. The Property segment consists of commercial fire, earthquake, contingent, marine, voluntary and treaty reinsurance, and includes crop and select personal insurance, including pet insurance and homeowners reinsurance services.
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