We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
RLI Corp. (RLI) Stock Jumps 4.4%: Will It Continue to Soar?
Read MoreHide Full Article
RLI Corp. (RLI - Free Report) shares ended the last trading session 4.4% higher at $120.19. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.5% gain over the past four weeks.
RLI's strong local branch office network, broad range of product offerings, focus on specialty insurance lines, sturdy business expansion, sustained rate increase, expanded distribution and impressive record of underwriting profits poise it well for growth. This insurer is one of the industry’s most profitable P&C writers with an impressive track record of delivering 26 consecutive years of underwriting profitability. RLI has maintained combined ratio below 100 for 26 consecutive years, averaging 88 and below 90 for 14 straight years.
Recently, the board of directors approved a 4% increase in its quarterly dividend. RLI has been paying dividends for 183 consecutive quarters and increased regular dividends in the last 47 straight years, increasing at a nine-year (2014-2022) CAGR of 4.2%. The insurer has also been paying special dividends since 2011.
This specialty insurance company is expected to post quarterly earnings of $0.99 per share in its upcoming report, which represents a year-over-year change of -9.2%. Revenues are expected to be $301.73 million, up 17.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RLI Corp., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RLI going forward to see if this recent jump can turn into more strength down the road.
RLI Corp. is part of the Zacks Insurance - Property and Casualty industry. Travelers (TRV - Free Report) , another stock in the same industry, closed the last trading session 0.7% higher at $174.87. TRV has returned 0% in the past month.
Travelers' consensus EPS estimate for the upcoming report has changed -3.9% over the past month to $2.04. Compared to the company's year-ago EPS, this represents a change of -40.9%. Travelers currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
RLI Corp. (RLI) Stock Jumps 4.4%: Will It Continue to Soar?
RLI Corp. (RLI - Free Report) shares ended the last trading session 4.4% higher at $120.19. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.5% gain over the past four weeks.
RLI's strong local branch office network, broad range of product offerings, focus on specialty insurance lines, sturdy business expansion, sustained rate increase, expanded distribution and impressive record of underwriting profits poise it well for growth. This insurer is one of the industry’s most profitable P&C writers with an impressive track record of delivering 26 consecutive years of underwriting profitability. RLI has maintained combined ratio below 100 for 26 consecutive years, averaging 88 and below 90 for 14 straight years.
Recently, the board of directors approved a 4% increase in its quarterly dividend. RLI has been paying dividends for 183 consecutive quarters and increased regular dividends in the last 47 straight years, increasing at a nine-year (2014-2022) CAGR of 4.2%. The insurer has also been paying special dividends since 2011.
This specialty insurance company is expected to post quarterly earnings of $0.99 per share in its upcoming report, which represents a year-over-year change of -9.2%. Revenues are expected to be $301.73 million, up 17.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RLI Corp., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RLI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
RLI Corp. is part of the Zacks Insurance - Property and Casualty industry. Travelers (TRV - Free Report) , another stock in the same industry, closed the last trading session 0.7% higher at $174.87. TRV has returned 0% in the past month.
Travelers' consensus EPS estimate for the upcoming report has changed -3.9% over the past month to $2.04. Compared to the company's year-ago EPS, this represents a change of -40.9%. Travelers currently boasts a Zacks Rank of #3 (Hold).