Dernières nouvelles pour RLI (NYSE:RLI) Stock

RLI Corp underwrites property and casualty insurance through its subsidiaries. The company offers insurance coverage in the specialty admitted market, where the products are designed for special risks. It also offers products in the excess and surplus markets, which provides an alternative for customers with risks or loss exposures that generally cannot be written in the standard admitted market. RLI distributes property and casualty insurance through its wholly-owned branch offices that market to wholesale and retail producers. The company's insurance operation segments include Casualty, Property, and Surety and it derives a majority of its revenue from the Casualty segment.

RLI Corp

RIZE ENVIRONMENTAL IMPACT 100 UCITS ETF

Fund manager Matthew Tuttle made waves in the ETF space for his unique funds that offer ways for investors to get leveraged exposure or <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36500461/exclusive-the-man-who-shorts-cathie-wood-and-jim-cramer-filed-for-new-bitcoin-etfs-why-lev">bet against well-known financial figures</a> like Jim Cramer and Cathie Wood.
Tuttle is back with a new fund that gives investors a way to invest in companies that are not meeting ESG (environmental, social, and governance) requirements.
What Happened: Tuttle Capital Management launched the ETF Opportunities Trust Tuttle Capital Shareholders First Index ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ESGX#BATS">ESGX</a>), a new ETF that gives investors<a href="https://www.benzinga.com/markets/esg/23/09/34288808/want-to-bet-against-woke-companies-theres-an-etf-for-that"> a way to invest </a>in companies that "focus on profits, not politics or trendy activisms of the moment."
"ESGX allows investors to choose a portfolio of companies that follow the comment sense notion that companies that focus on profits are better for investors than companies that don't," a press release for the fund reads.
The ETF follows the AJN Shareholders First Index, which tracks a portfolio of U.S. companies that meet the requirement of focusing on profits and ignoring politics and "trendy activisms of the moment."
"Too many companies today put ESG and DEI politics first and their shareholders' profits last," Tuttle Capital CEO Matthew Tuttle said. "ESG has become a way for liberal executives and large investors to enact social changes that they can't pass at the ballot box."
Tuttle said CEOs can be pressured to "cave to the trendy politics of the moment," and often times this is not in the best interest of shareholders.
"That's why we launched ESGX – to put shareholders and profits first."
Tuttle added that investors had limited options of ways to invest in companies that put profits ahead of politics before the ETF launched.
As of Sept. 9, the following were the top <a href="http://ShareholdersFirstETF.com">holdings </a>in the ESGX ETF:
<ul>
<li>MarketAxess Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKTX#NASDAQ">MKTX</a>): 2.3% of assets</li>
<li>Evergy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>): 2.2% of assets</li>
<li>J.B. Hunt Transport Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>): 2.1% of assets</li>
<li>MDU Resources Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDU#NYSE">MDU</a>): 2.1% of assets</li>
<li>RLI Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>): 2.1% of assets</li>
</ul>
The ETF launch comes after companies like Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>), Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>), Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) and others have been <a href="https://www.benzinga.com/news/23/06/33083401/mark-cuban-vs-chamath-palihapitiya-billionaires-battle-over-go-woke-go-broke-mantra">accused by consumers</a> and investors of focusing too heavily on ESG and DEI policies and "going woke" instead of worrying about financial growth and returns for shareholders.
Read Also: <a href="https://www.benzinga.com/etfs/specialty-etfs/24/06/39299113/nancy-pelosi-among-best-of-the-best-in-stock-trading-new-congress-trading-etf-coming-from-cre">Nancy Pelosi Among &#8216;Best Of The Best&#8217; In Stock Trading: New Congress Trading ETF Coming From Creator Of Anti-Cathie Wood, Jim Cramer Funds</a>
Self Defense ETF Also Launches: Tuttle Capital also launched the Spinnaker ETF Series Tuttle Capital Self Defense Index ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/GUNZ#BATS">GUNZ</a>) Tuesday.
The fund invests in companies that are engaged in self-defense, with a belief that the United States is becoming less safe.
The ETF invests in companies that manufacture, service, supply and distribute personal and law enforcement defense equipment and protection services. The fund tracks the AJN Self Defense U.S. Equity Index.
"Americans feel less safe and feel there is more crime in the country now than last year. Many Americans are taking self defense into their own hands," Tuttle said.
Tuttle added that shares of gun manufacturers have also risen after the assassination attempt on former President Donald Trump.
"Gun sales have rebounded after nearly three years of continuous decline and firearms manufacturers world wide have seen their stock surge after the terrorist attack on Israel and the Trump assassination attempt."
As of Sept. 9, the following were the top <a href="https://www.gunzetf.com/">holdings </a>in the GUNZ ETF:
<ul>
<li>Palantir Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>): 8.9% of assets</li>
<li>Johnson Controls (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JCI#NYSE">JCI</a>): 6.9% of assets</li>
<li>AXON Enterprise (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>): 6.9% of assets</li>
<li>Allegion PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLE#NYSE">ALLE</a>): 6.4% of assets</li>
<li>OSI Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSIS#NASDAQ">OSIS</a>): 6.4% of assets</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/m-a/24/03/37943780/exclusive-trump-media-company-goes-public-financial-experts-say-djt-a-meme-stock-this-is-going-to-be">EXCLUSIVE: Trump Media Company Goes Public, Financial Experts Say DJT A &#8216;Meme Stock&#8217; — &#8216;This Is Going To Be A Way To Bet On Or Against Trump&#8217;</a></li>
</ul>

Specialty ETFs

Trading Ideas

ETFs

ALLE

AXON

ETF Opportunities Trust Tuttle Capital Shareholders First Index ETF

ESGX

EVRG

GUNZ

JBHT

MKTX

OSIS

PLNT

PLTR

Fund Manager Who Bet Against Jim Cramer And Cathie Wood Has New Anti-Woke ETF: 'Puts Profits Ahead Of Politics, DEI & ESG'

Shares of RLI Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rli#NYSE">RLI</a>) closed at $151.38 on Friday, near its 52-week high of $155.59. This proximity underscores investor confidence. It has the ingredients for further price appreciation. Technical indicators for RLI show that the stock is trading above its 50-day and 200-day moving averages, signaling strong upward momentum.
Earnings of RLI grew 18.7% in the last five years, better than the industry average of 10.5%. RLI has a solid surprise history. It surpassed earnings estimates in each of the last four quarters, the average being 140.08%.
Shares of RLI have gained 13.7% in the year-to-date period compared with the industry&#39;s growth of 28.2%. The stock has outperformed the Zacks S&amp;P 500 composite&#39;s growth 13.3%.
<h2>RLI YTD Price Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/c4/76952.jpg?v=232627320" />
Image Source: Zacks Investment Research
<h2>Positive Analyst Sentiment Instills Confidence in RLI</h2>
Three of the four analysts covering the stock have raised estimates for 2024 and 2025 over the past 60 days. The Zacks Consensus Estimate for 2024 and 2025 increased 4.9% and 3.6%, respectively.
The consensus estimate for 2024 and 2025 earnings indicates an improvement of 24.2% and 2.6%, respectively. RLI has a Growth Score of B.
<h2>RLI&#39;s Favorable Return on Capital</h2>
Return on equity in the trailing 12 months was 18.3%, higher than the industry average of 7.9%. Return on equity, a profitability measure, reflects how effectively a company is utilizing its shareholders. Its return on invested capital has increased every year. This reflects RLI&#39;s efficiency in utilizing funds to generate income. ROIC in the trailing 12 months was 7.6%, higher than the industry average of 6%.
<h2>Key Points to Note for RLI</h2>
Product diversification across the Casualty, Property and Surety segments of the company has fueled the insurer&#39;s growth and financial success. The Casualty segment continues to gain from an expanded distribution base in personal umbrella and rate increases.
The commercial property business has been gaining from higher wind and earthquake exposure rates. Rate increases, improved retention and new opportunities in the inland marine space should benefit marine products.
The Surety segment continues to benefit from its compelling product portfolio, growth within existing accounts and writing of bonds with new customers. 
Building materials inflation and new accounts will aid commercial and contract surety businesses in the future. RLI boasts solid operating results and its financial position remained strong. Operating cash flows are likely to gain from higher premium receipts.
The insurer has a sound capital structure, helping it meet the interests of its policyholders, enhance operations in the insurance sector and aid growth in its book value for the long term.
<h2>RLI&#39;s Impressive Dividend History</h2>
RLI has been paying dividends for 187 consecutive quarters and increased regular dividends in each of the last 48 years at an eight-year (2016-2023) CAGR of 3.9%. In addition, the insurer has been paying special dividends since 2011. Over the past five years, the insurer has returned $819 million to shareholders. RLI has $87.5 million of remaining capacity from the repurchase program.
<h2>RLI Shares Are Expensive</h2>
The stock is overvalued compared with its industry. It is currently trading at a price-to-book ratio of 4.37, higher than the industry average of 1.61.
However, shares of other players from the same space, like Axis Capital Holdings Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axs#NYSE">AXS</a>), CNA Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cna#NYSE">CNA</a>) and NMI Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmih#NASDAQ">NMIH</a>), are trading at a discount to the industry average.
<h2>Conclusion</h2>
A strong product portfolio, rate increases, improved retention, higher premium receipts and sufficient liquidity and effective capital deployment should continue to favor RLI over the long term. Coupled with favorable growth estimates and ROE, the time appears right for potential investors to bet on this Zacks Rank #2 (Buy) insurer.
<a href="https://www.zacks.com/stock/news/2333502/rli-stock-near-52-week-high-what-investors-should-know?cid=CS-BENZ-FT-analyst_blog|rank_focused-2333502">To read this article on Zacks.com click here.</a>

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NMIH

RLI Stock Near 52-Week High: What Investors Should Know?

The Property and Casualty (P&amp;C) insurance space is set to benefit from better pricing, prudent underwriting, increased exposure, an improving rate environment and a solid capital position. With the ongoing economic expansion, insurers remain well-poised for growth.&nbsp;
The Zacks-defined Property &amp; Casualty Insurance Industry is currently in the top 24% of the Zacks Industry Rank. In the past year, the industry has provided 19.7% returns, while its year-to-date return is 19.5%. Since it is ranked in the top half of the Zacks Ranked Industries, we expect it to outperform the market over the next three to six months.
<h2>Future Catalysts</h2>
Price hikes, operational strength, higher retention, strong renewal and the appointment of retail agents should help write higher premiums. The P&amp;C insurance industry is witnessing increased use of technology like blockchain, artificial intelligence, advanced analytics, telematics, cloud computing and robotic process automation that expedite business operations and save costs. Insurers continue to invest heavily in technology to improve basis points, scale and efficiencies.
Meanwhile, consolidation in the property and casualty industry is likely to continue as players look to diversify their operations into new business lines and geographies. Deloitte estimates more mergers and acquisitions in the reinsurance space in 2024.
Finally, a massive rise in the market interest rate will raise the cost of funds, enabling financial companies to widen the spread between longer-term assets, such as loans, with shorter-term liabilities, thus boosting the financial sector&#39;s profit margin.
<h2>Our Top Picks</h2>
We have narrowed our search to five P&amp;C insurers with strong potential for the rest of 2024. These stocks have seen positive earnings estimates in the last 30 days. Each of our picks carries a Zacks Rank #2 (Buy).
The chart below shows the price performance of our five picks in the past three months.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f0/74260.jpg?v=1709561596" style="border-style:solid; border-width:1px" />
Image Source: Zacks Investment Research
Arch Capital Group Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acgl#NASDAQ">ACGL</a>) boasts a strong product portfolio and has a solid track record of premium growth. Premiums should benefit from new business opportunities, rate increases, growth in existing accounts and growth in Australian single-premium mortgage insurance.&nbsp;
ACGL has also been diversifying its Mortgage Insurance business via strategic acquisitions that also complement the strength in the specialty insurance and reinsurance businesses. A solid capital position shields ACGL from market volatility. ACGL&#39;s growing Investment portfolio provides meaningful tailwinds to its bottom line. Strategic buyouts strengthen ACGL&#39;s portfolio and offer geographic diversification.&nbsp;
Arch Capital Group has an expected revenue and earnings growth rate of 15.1% and 5.7%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.4% over the last seven days.
The Allstate Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/all#NYSE">ALL</a>) is witnessing consistent growth in premiums, thanks to strategic acquisitions and expanding ventures. Rate hikes to counter inflationary pressures on loss costs are expected to continue in ALL&#39;s auto insurance business for 2024.&nbsp;
ALL&#39;s focus on optimizing core operations has allowed it to redirect resources toward high-growth areas. The sale of ALL&#39;s Health &amp; Benefits division is expected to free up capital. Cost-saving initiatives are projected to boost profits. ALL&#39;s cash-generating abilities are crucial for returning capital to its shareholders.
The Allstate has an expected revenue and earnings growth rate of 9.6% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 3.5% in the last seven days.
The Progressive Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgr#NYSE">PGR</a>) continues to gain on higher premiums, given its compelling product portfolio, leadership position and strength in both Vehicle and Property businesses. Focus on becoming a one-stop insurance destination, catering to customers opting for a combination of home and auto insurance, augurs well for PGR&#39;s growth.&nbsp;
Policies in force and retention ratio should remain healthy. Competitive pricing to retain current customers and address their needs with new offerings should continue to drive policy life expectancy.
The Progressive has an expected revenue and earnings growth rate of 19.5% and 96.7%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 8.1% in the last 30 days.
RLI Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rli#NYSE">RLI</a>) is one of the industry&#39;s most profitable property and casualty writers with an impressive track record of underwriting profits. A strong local branch office network, a broad range of product offerings, and a focus on specialty insurance lines contribute to RLI&#39;s profits.&nbsp;
RLI&#39;s ability to maintain the combined ratio at favorable levels even in the toughest operating environment reflects superior underwriting discipline. RLI&#39;s decision to drop underperforming products from its property business also bodes well. A strong capital position provides financial flexibility to operating subsidiaries and supports wealth distribution to shareholders.
RLI has an expected revenue and earnings growth rate of 18.1% and 22.5%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 3.6% over the last 30 days.
Root Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/root#NASDAQ">ROOT</a>) provides insurance products and services in the United States. ROOT offers automobile, homeowners, and renters&#39; insurance products. ROOT operates a direct-to-consumer model, and serves customers primarily through mobile applications, as well as through its website. ROOT&#39;s direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.
Root has an expected revenue and earnings growth rate of more than 100% and 74.3%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 28.5% over the last 30 days.
<a href="https://www.zacks.com/stock/news/2321865/buy-5-property-casualty-insurers-to-enhance-your-portfolio?cid=CS-BENZ-FT-analyst_blog|investment_ideas-2321865">To read this article on Zacks.com click here.</a>

ACGL

ROOT

Buy 5 Property & Casualty Insurers to Enhance Your Portfolio

Palomar Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plmr#NASDAQ">PLMR</a>) reported second-quarter 2024 operating income of $1.25 per share, which beat the Zacks Consensus Estimate by 11.6%. The bottom line increased 45.3% year over year.
Palomar witnessed improved premiums, increased adjusted underwriting income and higher yields on invested assets, partly offset by higher losses and loss adjustment expenses, as well as underwriting expenses.
<div class="chart_embed">
Palomar Holdings, Inc. Price, Consensus and EPS Surprise
<img alt="Palomar Holdings, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/5c/1722942068.png" style="height:265px; width:577px" title="" />
Palomar Holdings, Inc. price-consensus-eps-surprise-chart | Palomar Holdings, Inc. Quote
</div>
<h3>Behind the Headlines</h3>
Total revenues improved 47.2% year over year to $131 million, mainly attributable to higher premiums, commission and other income and net investment income. The top line beat the Zacks Consensus Estimate by 9.2%.
Gross written premiums increased 40.4% year over year to $385.2 million. Our estimate was $362.7 million. Net earned premiums increased 47.1% year over year to $122.3 million. Our estimate was $109.2 million. The Zacks Consensus Estimate is pegged at $117.7 million.
Net investment income increased 43.7% year over year to $8 million, driven by higher yields on invested assets and a higher average balance of investments held during the three months ended Jun 30, 2024, due to cash generated from operations. The Zacks Consensus Estimate is pegged at $8.2 million. Our estimate was $8.9 million.
Palomar recorded an underwriting income of $25.6 million, which increased 47% from the year-ago quarter&#39;s income of $17.4 million. Our estimate was $23.2 million.
Adjusted underwriting income was $32.9 million, up 42.5% year over year.
Total expenses of $97.6 million increased 45% year over year due to higher losses and loss adjustment expenses, underwriting expenses and acquisition expenses, net of ceding commissions and fronting fees. Our estimate was $87.2 million.
The loss ratio was 24.9, which deteriorated 340 basis points (bps) year over year. Our estimate was 23.2. The Zacks Consensus Estimate was pegged at 24.7.
Adjusted combined ratio, excluding catastrophe losses, deteriorated 90 bps year over year to 73.1. The Zacks Consensus Estimate was pegged at 75.8.
<h3>Financial Update</h3>
Cash and cash equivalents decreased 7.1% from 2023-end to $47.8 million at the end of the second quarter of 2024. Shareholder equity increased 13% from 2023-end to $532.6 million at the end of the reported quarter.
Annualized adjusted return on equity in the second quarter of 2024 was 24.7%, expanding 340 bps year over year.
<h3>2024 View</h3>
Palomar expects adjusted net income in the range of $124-$130 million. This range includes $6.8 million of catastrophe losses incurred during the six months ended Jun 30, 2024, and additional catastrophe losses incurred during the third quarter of 2024 of nearly $5-$7 million related to Hurricanes Beryl and Debby.
<h3>Zacks Rank</h3>
PLMR currently carries a Zacks Rank #3 (Hold).
<h3>Performance of Other Property &amp; Casualty Insurers</h3>
Cincinnati Financial Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cinf#NASDAQ">CINF</a>) reported second-quarter 2024 operating income of $1.29 per share, which surpassed the Zacks Consensus Estimate by 33%. The bottom line increased 7% year over year. Total operating revenues in the quarter under review were $2.4 billion, which improved 10.8% year over year. However, the top line missed the consensus mark by 1.5%.
Net written premiums climbed 14% year over year to $2.4 billion. Investment income, net of expenses, increased 10% year over year to $242 million and missed our estimate of $246.2 million. The Zacks Consensus Estimate was pegged at $252 million. Total benefits and expenses of Cincinnati Financial increased 11.2% year over year to $2.1 billion. Our estimate was $2.2 billion. In its P&amp;C insurance business, CINF witnessed an underwriting income of $35 million, which decreased 26% from the year-ago period. Our estimate was pegged at an income of $1.5 million.
RLI Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rli#NYSE">RLI</a>) reported second-quarter 2024 operating earnings of $1.72 per share, beating the Zacks Consensus Estimate by 27.4%. The bottom line improved 48.3% year over year. Operating revenues for the reported quarter were $413 million, up 17.6% year over year, driven by 17.6% higher net premiums earned and 18% higher net investment income. The top line beat the Zacks Consensus Estimate of $403 million. Gross premiums written increased 11% year over year to $563.4 million. Our estimate was $664 million.
Net investment income increased 18% year over year to $34 million. Our estimate was $39.1 million. The Zacks Consensus Estimate was pegged at $37.4 million. Total expenses increased 9.5% year over year to $314.8 million. Our estimate was $331.7 million. Underwriting income increased 70% year over year to $70 million. The combined ratio improved 570 bps year over year to 81.5. The Zacks Consensus Estimate for the metric was pegged at 95.3, while our estimate was 89.9.
CNA Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cna#NYSE">CNA</a>) reported second-quarter 2024 core earnings of $1.19 per share, which missed the Zacks Consensus Estimate by 1.6%. However, the bottom line increased 5.3% year over year. Total operating revenues of CNA Financial were $3.1 billion, up 6.7% year over year. The top line beat the Zacks Consensus Estimate by 1.3%. Net written premiums of Property &amp; Casualty Operations increased 6% year over year to $2.6 billion.
Net investment income rose 7.4% year over year to $618 million. Our estimate for net investment was $601.1 million. The Zacks Consensus Estimate was pegged at $592.3 million. Total claims, benefits and expenses increased 7.3% to $2.6 billion. Our estimate was $2.5 billion. Catastrophe losses were $82 million, wider than a loss of $68 million in the year-ago quarter. Underwriting income declined 10.1% year over year to $124 million. Our estimate was $175.3 million.
<a href="https://www.zacks.com/stock/news/2317146/palomar-plmr-q2-earnings-top-estimates-on-improved-premiums?cid=CS-BENZ-FT-analyst_blog|earnings_article-2317146">To read this article on Zacks.com click here.</a>

Earnings Beats

CINF

PLMR

Palomar Q2 Earnings Top Estimates on Improved Premiums

Keefe, Bruyette &amp; Woods analyst Meyer Shields maintains RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) with a Outperform and raises the price target from $169 to $175.

Price Target

Keefe, Bruyette & Woods Maintains Outperform on RLI, Raises Price Target to $175

RBC Capital analyst Scott Heleniak reiterates RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) with a Sector Perform and maintains $155 price target.

Reiteration

RBC Capital Reiterates Sector Perform on RLI, Maintains $155 Price Target

RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) underwent analysis by 3 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $167.67, a high estimate of $170.00, and a low estimate of $165.00. Experiencing a 1.95% decline, the current average is now lower than the previous average price target of $171.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1721829620_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
A clear picture of RLI's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Casey Alexander</td>
<td>Compass Point</td>
<td>Lowers</td>
<td>Buy</td>
<td>$170.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$168.00</td>
<td>$168.00</td>
</tr>
<tr>
<td>Andrew Andersen</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$165.00</td>
<td>$170.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to RLI. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of RLI compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for RLI's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into RLI's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/RLI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on RLI analyst ratings.</a>
<h2>About RLI</h2>
RLI Corp underwrites property and casualty insurance through its subsidiaries. The company offers insurance coverage in the specialty admitted market, where the products are designed for special risks. It also offers products in the excess and surplus markets, which provides an alternative for customers with risks or loss exposures that generally cannot be written in the standard admitted market. RLI distributes property and casualty insurance through its wholly-owned branch offices that market to wholesale and retail producers. The company's insurance operation segments include Casualty, Property, and Surety and it derives a majority of its revenue from the Casualty segment.
<h3>RLI's Financial Performance</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: RLI's revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately -6.38%. This indicates a decrease in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
Net Margin: RLI's net margin excels beyond industry benchmarks, reaching 19.69%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): RLI's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 5.28%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): RLI's ROA excels beyond industry benchmarks, reaching 1.51%. This signifies efficient management of assets and strong financial health.
Debt Management: RLI's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.06.
<h2>The Basics of Analyst Ratings</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

RLI Stock: A Deep Dive Into Analyst Perspectives (3 Ratings)

Compass Point analyst Casey Alexander maintains RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) with a Buy and lowers the price target from $175 to $170.

Compass Point Maintains Buy on RLI, Lowers Price Target to $170

JMP Securities analyst Matthew Carletti reiterates RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) with a Market Perform.

JMP Securities Reiterates Market Perform on RLI

RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) reported quarterly earnings of $1.72 per share which beat the analyst consensus estimate of $1.34 by 28.36 percent. This is a 48.28 percent increase over earnings of $1.16 per share from the same period last year. The company reported quarterly sales of $459.899 million which beat the analyst consensus estimate of $443.658 million by 3.66 percent. This is a 9.62 percent increase over sales of $419.541 million the same period last year.

RLI Q2 2024 Adj EPS $1.72 Beats $1.34 Estimate, Sales $459.899M Beat $443.658M Estimate

First American Financial (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/faf#NYSE">FAF</a>) is poised to grow, given the increased demand among millennials for first-time home purchases. The expansion of its valuation and data businesses, as well as strength in commercial business and technological upgrades, is expected. These, along with solid growth projections, make the Zacks rank #3 (Hold) stock worth retaining.
<h3>An Outperformer</h3>
Shares have gained 8.5% in the past month, outperforming the industry&#39;s growth of 7.6%, the Finance sector&#39;s decline of 1% and the Zacks S&amp;P 500 composite&#39;s increase of 0.7%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ff/71942.jpg?v=482038030" /> 
Image Source: Zacks Investment Research
<h3>Optimistic Growth Projection</h3>
The Zacks Consensus Estimate for 2024 earnings is pegged at $3.83, indicating an increase of 0.8% on 4.7% higher revenues of $6.3 billion. The consensus estimate for 2025 earnings is pegged at $5.12, indicating an increase of 33.8% on 10.2% higher revenues of $6.9 billion. 
We expect 2026 EPS to witness a three-year CAGR of 11.3%.
<h3>Return on Equity</h3>
Return on equity (ROE) is a measure of profitability, reflecting how efficiently a company is utilizing its shareholders&#39; funds. FAF&#39;s trailing 12-month ROE of 8.2% outperformed the industry average of 7.8%. &nbsp;
<h3>Growth Drivers</h3>
An increased demand for first-time home purchases among millennials continues to drive results at First American. It expects housing demand, improving economy and labor markets to drive home price appreciation. Thus, banking on growing leadership in title data, courtesy of proprietary data extraction, sturdy distribution relationships, prudent underwriting and continued investments in technology, FAF remains well poised for long-term growth.
Growing direct premiums, escrow fees and title agent premiums should continue to drive the top line. We expect the 2026 top line to increase at a three-year CAGR of 8.2%.
Strategic initiatives to strengthen its product offerings, intensify the company&#39;s focus on its core business and expand FAF&#39;s valuation and data businesses bode well. Also, the expansion of title plant assets and the upgrade of technology solutions drive increased efficiency.
<h3>Impressive Dividend History and Share Buyback Plans</h3>
First American has a solid track record of dividend increase, with the metric witnessing an eight-year (2016-2024) CAGR of 8.2%. FAF&#39;s dividend yield of 3.9% compares positively with the industry average of 0.3%.
The company also engaged in share buyback and had $210.4 million remaining under its authorization as of Mar 31, 2024.
<h3>Risks</h3>
Despite the upside potential, there are a few factors that investors should keep an eye on. A challenging real estate and mortgage industry weigh on First American. Transaction volumes suffer due to higher mortgage rates and slow inventory growth. A tough mortgage origination market is a concern.
Also, as the Fed intends to lower rates, the company estimates that for each 25-basis point decline in the Fed funds rate, the annualized investment income will decline $15 million. But the ultimate amount will fluctuate depending on the level of cash and escrow balances.
First American&#39;s debt levels have been increasing in the past few years, with the debt-to-capital ratio deteriorating. Its times interest earned compares unfavorably with the industry average.&nbsp;
<h3>Stocks to Consider</h3>
Some top-ranked stocks from the insurance industry are RLI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rli#NYSE">RLI</a>), Palomar Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plmr#NASDAQ">PLMR</a>) and ProAssurance Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pra#NYSE">PRA</a>). Each stock presently sports a Zacks Rank&nbsp;#1 (Strong Buy).
RLI Corporation&#39;s earnings surpassed estimates in three of the last four quarters while missing in one, the average beat being 132.39%. Year to date, shares of RLI have gained 8.2%.
The Zacks Consensus Estimate for RLI&#39;s 2024 and 2025 earnings implies 18.2% and 4.1% year-over-year growth, respectively.
Palomar&#39;s earnings surpassed estimates in each of the last four quarters, the average earnings surprise being 15.10%. Year to date, PLMR&#39;s stock has surged 65.8%.
The Zacks Consensus Estimate for PLMR&#39;s 2024 and 2025 earnings indicates 26.3% and 18.5% year-over-year growth, respectively.
ProAssurance earnings surpassed estimates in two of the last four quarters and missed in the other two. Year to date, PRA&#39;s stock has lost 12.4%.
The Zacks Consensus Estimate for PRA&#39;s 2024 and 2025 earnings implies 371.4% and 72.6% year-over-year growth, respectively.
<a href="https://www.zacks.com/stock/news/2305535/here-s-why-wait-see-style-is-apt-for-first-american-faf?cid=CS-BENZ-FT-analyst_blog|rank_focused-2305535">To read this article on Zacks.com click here.</a>

Buybacks

Here's Why Wait & See Style Is Apt for First American

The Travelers Companies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trv#NYSE">TRV</a>) reported second-quarter 2024 core income of $2.51 per share, which beat the Zacks Consensus Estimate by 25.5%.
Shares gained 0.5% in the pre-market trading session to reflect the outperformance.
The bottom line skyrocketed from 6 cents earned in the year-ago quarter, driven by solid underlying results, net favorable prior year reserve development and higher net investment income, partially offset by higher catastrophe losses.
<h3>The Travelers Companies, Inc. Price, Consensus and EPS Surprise</h3>
<div class="chart_embed">
<h3><img alt="The Travelers Companies, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/8e/1721401506.png" style="height:265px; width:587px" title="" /></h3>
The Travelers Companies, Inc. price-consensus-eps-surprise-chart | The Travelers Companies, Inc. Quote
</div>
<h3>Behind Q2 Headlines</h3>
Travelers&#39; total revenues increased 12.4% from the year-ago quarter to $11.3 billion, primarily driven by higher premiums. The top-line figure, however, missed the Zacks Consensus Estimate by 1%.
Net written premiums increased 8% year over year to a record $11.1 billion, driven by strong growth across all three segments. The figure was higher than our estimate of $10.4 billion.
Net investment income increased 24.2% year over year to $885 million, primarily due to strong fixed-income returns and growth in fixed-maturity investments. The figure was higher than our estimate of $852.14 million. The Zacks Consensus Estimate was pegged at $861.2 million.
Catastrophe loss was $1.51 billion, pre-tax, wider than a loss of $1.18 million, pre-tax, incurred in the year-ago quarter.
Travelers witnessed an underwriting loss of $65 million, narrower than a loss of $640 million incurred in the year-ago quarter. The consolidated underlying combined ratio of 87.7 improved 340 basis points (bps) year over year.&nbsp; The combined ratio improved 630 bps year over year to 100.2 due to an improvement in the underlying combined ratio, higher net favorable prior-year reserve development and lower catastrophe losses as a percentage of net earned premiums.&nbsp; The Zacks Consensus Estimate was pegged at 97.
Core return on equity expanded 20 basis points to 8.1%. Adjusted book value per share (excludes net unrealized investment gains/losses) of $126.52 increased 3% year over year. At quarter-end, statutory capital and surplus were $25.21 billion and the debt-to-capital ratio was 24.4%.
<h3>Segment Update</h3>
Business Insurance: Net written premiums increased 7% year over year to about $5.5 billion, reflecting a 10% increase in renewal premium change, 85% retention and a 9% increase in new business. Business Insurance net written premiums beat our estimate of $5.3 billion.
The combined ratio improved 400 bps year over year to 96.1 on net favorable prior-year reserve development, lower catastrophe losses and an improvement in the underlying combined ratio.&nbsp; Our estimate was 97.4. The Zacks Consensus Estimate was pegged at 96.
Segment income of $656 million increased 63.1% year over year on net favorable prior-year reserve development compared to net unfavorable prior-year reserve development in the prior year quarter, higher net investment income and a higher underlying underwriting gain. The figure was lower than our estimate of $732 million.
Bond &amp; Specialty Insurance: Net written premiums increased 8% year over year to $1 billion, reflecting strong production in both surety and management liability. Our estimate was $987.1 million.
The combined ratio deteriorated by 1060 bps year over year to 87.7 due to lower net favorable prior-year reserve development and higher catastrophe losses.&nbsp; Our estimate was 75.3. The Zacks Consensus Estimate was pegged at 82.
Segment income of $170 million decreased 26.1% year over year due to lower net favorable prior-year reserve development and higher catastrophe losses, partially offset by a higher underlying underwriting gain and higher net investment income. The figure was lower than our estimate of $244.9 million.
Personal Insurance: Net written premiums of $4.5 billion increased 9% year over year, reflecting a strong renewal premium change in both Domestic Automobile and Homeowners and Other.&nbsp; Our estimate was $4 billion.
The combined ratio improved 1350 bps year over year to 108.5, driven by an improvement in the underlying combined ratio, higher net favorable prior year reserve development and lower catastrophe losses as a percentage of net earned premiums. Our estimate was 116.3. The Zacks Consensus Estimate was pegged at 102.
Segment loss was $153 million, narrower than $538 million loss incurred in the year-ago quarter, attributable to higher underlying underwriting gain, higher net favorable prior year reserve development and higher net investment income, partially offset by higher catastrophe losses. Our estimate was a loss of $394.1 million.&nbsp;
<h3>Dividend and Share Repurchase Update</h3>
This property and casualty insurer returned $498 million to shareholders in the second quarter of 2024. It bought back 1.2 million shares for $253 million in the second quarter. At June end, TRV had $5.54 billion remaining under its authorization.
The board also announced a quarterly dividend of $1.05 per share. The dividend will be paid out on Sep 28, 2024, to shareholders of record at the close of business on Sep 10, 2024.&nbsp;
<h3>Zacks Rank</h3>
Travelers currently carries a Zacks Rank #3 (Hold).
<h3>Performance of Another Insurer</h3>
The Progressive Corporation&#39;s PGR second-quarter 2024 earnings per share of $2.65 beat the Zacks Consensus Estimate of $1.99. The bottom line improved more than five times year over year. Operating revenues of $18.3 billion beat the Zacks Consensus Estimate by 1.4% and increased 18.9% year over year.
Net premiums earned grew 19% to $17.2 billion and beat our estimate of $16.7 billion. Combined ratio improved 850 bps from the prior-year quarter&#39;s level to 91.9.
<h3>Upcoming Releases</h3>
RLI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rli#NYSE">RLI</a>) will report second -quarter 2024 results on Jul 22, after market close. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $1.35, indicating an increase of 16.4% from the year-ago quarter&#39;s reported figure.
RLI&#39;s earnings beat estimates in three of the last four quarters while missing in one.
W.R. Berkley Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wrb#NYSE">WRB</a>) will report second-quarter 2024 results on Jul 22, before market open. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at 82 cents, suggesting an increase of 7.9% from the year-ago quarter&#39;s reported figure.
WRB&#39;s earnings beat estimates in the last four reported quarters.
<a href="https://www.zacks.com/stock/news/2305537/travelers-trv-q2-earnings-beat-revenues-miss-estimates?cid=CS-BENZ-FT-analyst_blog|earnings_article-2305537">To read this article on Zacks.com click here.</a>

Travelers Q2 Earnings Beat, Revenues Miss Estimates

The Progressive Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgr#NYSE">PGR</a>) second-quarter 2024 earnings per share of $2.65 beat the Zacks Consensus Estimate of $1.99. The bottom line improved more than five times year over year.
Operating revenues of $18.3 billion beat the Zacks Consensus Estimate by 1.4% and increased 18.9% year over year.
Shares gained 2.3% in the pre-market trading session to reflect the outperformance.
<h3>The Progressive Corporation Price, Consensus and EPS Surprise</h3>
<div class="chart_embed">
<h3><img alt="The Progressive Corporation Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/c0/1721142510.png" style="height:265px; width:587px" title="" /></h3>
The Progressive Corporation price-consensus-eps-surprise-chart | The Progressive Corporation Quote
</div>
<h3>Behind the Headlines</h3>
Net premiums written were $17.9 billion in the quarter, up 22% from $14.7 billion a year ago. Premiums beat our estimate of $17.3 billion.
Net premiums earned grew 19% to $17.2 billion and beat our estimate of $16.7 billion.
Net realized loss on securities was $126.3 billion against $126.9 million earned in the year-ago quarter.
Combined ratio &mdash; the percentage of premiums paid out as claims and expenses &mdash; improved 850 basis points (bps) from the prior-year quarter&#39;s level to 91.9.
<h3>June Policies in Force</h3>
Policies in force were strong in the Personal Auto segment, up 10% from the year-ago month&#39;s figure to 21.5 million. Special Lines improved 8% to 6.3 million.
In the Personal Auto segment, Direct Auto increased 12% year over year to 12.6 million, while Agency Auto increased 6% to 9 million.
Progressive&#39;s Commercial Auto segment rose 1% year over year to 1.1 million. The Property business had 3.3 million policies in force, up 12%.
<h3>Financial Update</h3>
Progressive&#39;s book value per share was $39.85 as of Jun 30, 2024, up 43.8% from $27.71 as of Jun 30, 2023.
Return on equity in June 2024 was 40.2%, up from 8% reported in the year-ago period. The total debt-to-total capital ratio improved 640 bps to 22.8.
<h3>Zacks Rank</h3>
Progressive currently has a Zacks Rank #3 (Hold).
<h3>Upcoming Releases</h3>
The Travelers Companies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trv#NYSE">TRV</a>) will report second-quarter 2024 results on Jul 19, before market open. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $2.49, suggesting an increase of 4,050% from the year-ago quarter&#39;s reported figure.
TRV&#39;s earnings beat estimates in one of the last four quarters while missing in the other three.
RLI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rli#NYSE">RLI</a>) will report second-quarter 2024 results on Jul 22, after market close. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $1.35, indicating an increase of 16.4% from the year-ago quarter&#39;s reported figure.
RLI&#39;s earnings beat estimates in three of the last four quarters while missing in one.
W.R. Berkley Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wrb#NYSE">WRB</a>) will report second-quarter 2024 results on Jul 22, before market open. The Zacks Consensus Estimate for second-quarter earnings per share is pegged at 82 cents, suggesting an increase of 7.9% from the year-ago quarter&#39;s reported figure.
WRB&#39;s earnings beat estimates in the last four reported quarters.
<a href="https://www.zacks.com/stock/news/2302874/progressive-s-pgr-q2-earnings-beat-premiums-rise-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2302874">To read this article on Zacks.com click here.</a>

Progressive's Q2 Earnings Beat, Premiums Rise Y/Y

Marsh &amp; McLennan Companies, Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mmc#NYSE">MMC</a>) Marsh McLennan Agency (&quot;MMA&quot;), a division of MMC&#39;s Marsh business, recently inked a definitive deal to purchase the Illinois-based leading full-service insurance broker, The Horton Group, Inc. The transaction is expected to be completed in the third quarter of 2024, but the terms of the deal have been kept under wraps.
The addition of Horton is expected to enhance the risk management capabilities of MMA and after the finalization of the acquisition, the acquiree&#39;s employees will be part of MMA and will continue operating from their current offices.
Horton seems to be a prudent pick by MMA since it has been providing property and casualty insurance, employee benefits consultation, and personal lines coverage to businesses and individuals in Indiana, Illinois, Wisconsin, Minnesota and Florida for more than five decades.
Improved risk management strategies resulting from the recent acquisition are likely to fetch more clients to MMA and subsequently, drive the performance of the Risk and Insurance Services segment. The segment usually accounts for a major chunk of Marsh &amp; McLennan&#39;s overall top line and the unit&#39;s revenues advanced 9.4% year over year in the first quarter.
The sub-unit Marsh, through MMA, remains quite active throughout the year with respect to the acquisition spree and therefore, requires a special mention. MMA delivers business insurance, employee health and benefits, retirement and wealth management, and private client insurance solutions to individuals and mid-market organizations.
MMA bought Minnesota-based AmeriStar Agency and New Jersey-based Hudson Shore Group in July 2024. In June, it purchased Mississippi-based Fisher Brown Bottrell Insurance, Inc. to strengthen its risk management services suite and boost its Southeast presence. MMA also acquired Texas-based Perkins Insurance Agencies in May to fortify its footprint in the West Texas market.
The various units within the Risk and Insurance Services and Consulting segments of Marsh &amp; McLennan leverage acquisitions to enhance their product offerings, enter new markets, expand within current locations, venture into new business areas, and specialize within existing ones. In the first quarter, MMC spent $301 million on acquisitions.
Another business of MMC, Oliver Wyman, closed the buyout of the commodity trading advisory firm, Veritas Total Solutions, in July 2024, well within the targeted timeline. The Mercer business entered into a deal to acquire long-term savings specialist, Cardano, which operates mainly in the United Kingdom and the Netherlands. The deal is likely to be completed by the end of this year. &nbsp;
Shares of Marsh &amp; McLennan have gained 13.3% in the past year compared with the industry&#39;s 8.5% growth. MMC currently carries a Zacks Rank #3 (Hold).
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a8/70976.jpg?v=1048751825" /> 
Image Source: Zacks Investment Research
<h3>Stocks to Consider</h3>
Some better-ranked stocks in the insurance space are Palomar Holdings, Inc., Brown &amp; Brown, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bro#NYSE">BRO</a>) and RLI Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rli#NYSE">RLI</a>). While Palomar currently sports a Zacks Rank #1 (Strong Buy), Brown &amp; Brown and RLI carry a Zacks Rank #2 (Buy) each.
Palomar&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 15.10%. The Zacks Consensus Estimate for PLMR&#39;s 2024 earnings implies 26% year-over-year growth while the same for revenues indicates an improvement of 34.2%. The consensus mark for PLMR&#39;s earnings has moved 4% north in the past 60 days.
The bottom line of Brown &amp; Brown outpaced earnings estimates in each of the last four quarters, the average surprise being 11.90%. The Zacks Consensus Estimate for BRO&#39;s 2024 earnings and revenues indicates a rise of 28.5% and 9.1%, respectively, from the prior-year reported figures. The consensus mark for BRO&#39;s earnings has moved 2.8% north in the past 60 days. &nbsp;
RLI&#39;s earnings surpassed estimates in three of the trailing four quarters and missed the mark once, the average surprise being 132.39%. The Zacks Consensus Estimate for RLI&#39;s 2024 earnings implies 18.4% year-over-year growth, while the same for revenues indicates an improvement of 15.6%. The consensus mark for RLI&#39;s earnings has moved 0.3% north in the past 60 days.
Shares of Palomar, Brown &amp; Brown and RLI have gained 44.5%, 29.9% and 1.2%, respectively, in the past year.
<a href="https://www.zacks.com/stock/news/2299506/marsh-mclennan-mmc-unit-sustains-its-acquisition-spree?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2299506">To read this article on Zacks.com click here.</a>

Marsh & McLennan Unit Sustains Its Acquisition Spree

RLI Corp.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rli#NYSE">RLI</a>) strong product portfolio, rate increases, improved retention, higher premium receipts and sufficient liquidity make it worth adding to one&#39;s portfolio.
<h3>Optimistic Growth Projections</h3>
The Zacks Consensus Estimate for RLI&#39;s 2024 earnings per share indicates an increase of 18.4% from the year-ago reported number. The consensus estimate for revenues is pegged at $1.64 billion, implying a year-over-year improvement of 15.6%.
The consensus estimate for 2025 earnings per share and revenues indicates an increase of 3.8% and 9.2%, respectively, from the corresponding 2024 estimates.
Earnings have grown 18.7% in the past five years, better than the industry average of 10.5%
<h3>Earnings Surprise History</h3>
RLI has a solid track record of beating earnings estimates in three of the last four quarters while missing in one, the average being 132.39%.
<h3>Estimate Revision</h3>
The Zacks Consensus Estimate for 2024 and 2025 earnings has moved 1.9% and 2.7% north, respectively, in the past 60 days. This should instill investors&#39; confidence in the stock.
<h3>Zacks Rank &amp; Price Performance</h3>
RLI currently carries a Zacks Rank #2 (Buy). Year to date, the stock has gained 4.3% compared with the industry&#39;s growth of 13.5%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/c4/70769.jpg?v=233749238" />
Image Source: Zacks Investment Research
<h3>Business Tailwinds</h3>
Product diversification across the Casualty, Property and Surety segments of the company has fueled the insurer&#39;s growth and financial success. The Casualty segment continues to gain from an expanded distribution base in personal umbrella and rate increases.
The commercial property business has been gaining from higher wind and earthquake exposure rates. Rate increases, improved retention and new opportunities in the inland marine space should benefit marine products.
The Surety segment continues to benefit from its compelling product portfolio, growth within existing accounts and writing of bonds with new customers. Building materials inflation and new accounts will aid commercial and contract surety businesses in the future. RLI boasts solid operating results and its financial position remained strong. Operating cash flows are likely to gain from higher premium receipts.
The insurer has a sound capital structure, helping it meet the interests of its policyholders, enhance operations in the insurance sector and aid growth in its book value for the long term. The insurer&#39;s trailing 12-month return on equity of 17.2% outperforms the industry average of 7.8%. Such a robust capital position provides significant financial flexibility to the operating subsidiaries.
RLI has been paying dividends for 187 consecutive quarters and increased regular dividends in each of the last 48 years at an eight-year (2016-2023) CAGR of 3.9%. In addition, the insurer has been paying special dividends since 2011. Over the past five years, the insurer has returned $816 million to shareholders. RLI has $87.5 million of remaining capacity from the repurchase program.
<h3>Other Stocks to Consider</h3>
Some other top-ranked stocks from the property and casualty insurance industry are Palomar Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plmr#NASDAQ">PLMR</a>), ProAssurance Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pra#NYSE">PRA</a>) and NMI Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmih#NASDAQ">NMIH</a>). While Palomar Holdings and ProAssurance sport a Zacks Rank #1 (Strong Buy) each, NMI Holdings currently carries a Zacks Rank #2.
Palomar Holdings earnings surpassed estimates in each of the last four quarters, the average surprise being 15.10%. Year to date, shares of PLMR have jumped 49.4%. The Zacks Consensus Estimate for PLMR&#39;s 2024 and 2025 revenues implies year-over-year growth of 26% and 18.1%, respectively.
The Zacks Consensus Estimate for ProAssurance&#39;s 2024 and 2025 earnings has moved 46.1% and 24.5% north, respectively, in the past 60 days. Year to date, shares of PRA have jumped 4.3%. The Zacks Consensus Estimate for PRA&#39;s 2024 and 2025 revenues implies year-over-year growth of 371.43% and 72.63%, respectively.
NMI Holdings&#39; earnings surpassed estimates in each of the last four quarters, the average surprise being 8.60%. Year to date, shares of NMIH have jumped 14.1%. The Zacks Consensus Estimate for NMIH&#39;s 2024 and 2025 revenues implies year-over-year growth of 10.6% and 7.6%, respectively.
<a href="https://www.zacks.com/stock/news/2298454/reasons-why-investors-should-consider-buying-rli-stock-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2298454">To read this article on Zacks.com click here.</a>

Reasons Why Investors Should Consider Buying RLI Stock Now

Trupanion, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trup#NASDAQ">TRUP</a>) has been benefiting from a focus on pet health and well-being in an underpenetrated pet insurance market, product launches, extended operating boundaries, as well as sufficient liquidity.
<h3>Growth Projections</h3>
The Zacks Consensus Estimate for Trupanion&#39;s 2024 earnings per share indicates an increase of 57.4% from the year-ago reported number. The consensus estimate for revenues is pegged at $1.26 billion, implying a year-over-year improvement of 13.7%.
The consensus estimate for 2025 earnings per share and revenues indicates an increase of 95.4% and 6.5%, respectively, from the corresponding 2024 estimates.
The expected long-term earnings growth rate is 39.3% compared with the industry average of 17.1%.
<h3>Zacks Rank &amp; Price Performance</h3>
Trupanion currently carries a Zacks Rank #3 (Hold). Over the past year, the stock has gained 4.9% compared with the industry&#39;s growth of 21.6%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/83/70558.jpg?v=221438358" /> 
Image Source: Zacks Investment Research
<h3>Earnings Surprise History</h3>
Trupanion has a decent earnings surprise history. Its earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 43.13%.
<h3>Business Tailwinds</h3>
This provider of insurance for cats and dogs operates in a large but underpenetrated market. Management noted that less than 5% of the pets are insured in North America and a very low number across most of Europe. There is immense scope as there has been a change in the attitude of pet owners, who are increasingly focusing on pet health and well-being. TRUP is well poised for growth in a total addressable market worth $34.1 billion.&nbsp; The insurer envisions doubling its addressable market (defined by the number of veterinary hospitals) by the end of 2030.
Average monthly retention continues to be strong, ensuring uninterrupted revenue generation.&nbsp; The insurer has also been expanding globally as part of its five-year growth plan, apart from strengthening its compelling portfolio. TRUP noticed increasing contributions from European endeavors, which added about 14,400 new pets during 2023.
Its focus on introducing products bodes well for growth. Its portfolio of products comprising Chewy and Aflac, medium and low average monthly revenue per unit products Firkin and Phi Direct and products in continental Europe contributed 22% to gross new pet adds in the first quarter of 2024.
Over the long term, TRUP remains focused on growing adjusted operating income and deploying increasing amounts at high internal rates of return. The pet insurer&#39;s five-year plan includes a 15% adjusted operating margin.
TRUP projects revenues in the range of $1.2 billion to $1.3 billion, up 14% from the 2023 level. Subscription revenues are projected between $842 million and $862 million, up 20% from 2023. Total adjusted operating income is now expected to be in the range of $100 million to $120 million, up 32% year over year.
A solid balance sheet supports investment in new product development and international expansion. Trupanion expects these investments to expand the addressable market in the long run.
TRUP has a Growth Score of A. This style score helps analyze the growth prospects of a company.
<h3>Headwinds</h3>
However, Trupanion has been incurring higher expenses over the last several years, attributable to an increase in technology and development, general and administrative, new pet acquisition expenses, depreciation and amortization. The insurer must strive to generate revenue growth higher than the rise in the magnitude of expense, or else the margin will continue to erode.
<h3>Stocks to Consider</h3>
Some better-ranked stocks from the insurance industry are Reinsurance Group of America, Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rga#NYSE">RGA</a>), RLI Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rli#NYSE">RLI</a>) and NMI Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmih#NASDAQ">NMIH</a>), each carrying a Zacks Rank #2 (Buy) at present.
Reinsurance Group has a solid track record of beating earnings estimates in each of the trailing four quarters, the average being 19.48%. In the past year, shares of RGA have jumped 43.1%.The Zacks Consensus Estimate for RGA&#39;s 2024 and 2025 earnings implies year-over-year growth of 5.3% and 4.9%, respectively.
RLI&#39;s earnings surpassed estimates in three of the last four quarters and missed in one, the average surprise being 132.39%. In the past year, shares of RLI have gained 1.9%.The Zacks Consensus Estimate for RLI&#39;s 2024 and 2025 revenues implies year-over-year growth of 18.4% and 3.8%, respectively.
NMI Holdings&#39; earnings surpassed estimates in each of the last four quarters, the average surprise being 8.60%. In the past year, shares of NMIH have jumped 32.5%.The Zacks Consensus Estimate for NMIH&#39;s 2024 and 2025 revenues implies year-over-year growth of 10.6% and 7.6%, respectively.
<a href="https://www.zacks.com/stock/news/2297554/should-you-retain-trupanion-trup-stock-in-your-portfolio?cid=CS-BENZ-FT-analyst_blog|rank_focused-2297554">To read this article on Zacks.com click here.</a>

TRUP

Should You Retain Trupanion Stock in Your Portfolio?

Keefe, Bruyette &amp; Woods analyst Meyer Shields maintains RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) with a Outperform and maintains $168 price target.

Keefe, Bruyette & Woods Maintains Outperform on RLI, Maintains $168 Price Target

Investors might want to bet on RLI Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rli#NYSE">RLI</a>), as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company&#39;s changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
Therefore, the Zacks rating upgrade for RLI Corp. basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company&#39;s future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That&#39;s partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company&#39;s shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for RLI Corp. imply an improvement in the company&#39;s underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
Earnings Estimate Revisions for RLI Corp.
This specialty insurance company is expected to earn $5.84 per share for the fiscal year ending December 2024, which represents a year-over-year change of 18.2%.
Analysts have been steadily raising their estimates for RLI Corp. Over the past three months, the Zacks Consensus Estimate for the company has increased 5.4%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of &#39;buy&#39; and &#39;sell&#39; ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a &#39;Strong Buy&#39; rating and the next 15% get a &#39;Buy&#39; rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
The upgrade of RLI Corp. to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
<a href="https://www.zacks.com/stock/news/2289374/what-makes-rli-corp-rli-a-new-strong-buy-stock?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_12_zacks_rank_upgrade-2289374">To read this article on Zacks.com click here.</a>

Upgrades

What Makes RLI Corp. a New Strong Buy Stock

RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) underwent analysis by 4 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $165.75, along with a high estimate of $175.00 and a low estimate of $155.00. This upward trend is evident, with the current average reflecting a 4.25% increase from the previous average price target of $159.00.
<img src="https://www.benzinga.com/files/images/story/2024/1718388048_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The perception of RLI by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Andrew Andersen</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$165.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>Casey Alexander</td>
<td>Compass Point</td>
<td>Raises</td>
<td>Buy</td>
<td>$175.00</td>
<td>$158.00</td>
</tr>
<tr>
<td>Mark Dwelle</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$155.00</td>
<td>$148.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$168.00</td>
<td>$160.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to RLI. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of RLI compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for RLI's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of RLI's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/RLI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on RLI analyst ratings.</a>
<h2>Discovering RLI: A Closer Look</h2>
RLI Corp underwrites property and casualty insurance through its subsidiaries. The company offers insurance coverage in the specialty admitted market, where the products are designed for special risks. It also offers products in the excess and surplus markets, which provides an alternative for customers with risks or loss exposures that generally cannot be written in the standard admitted market. RLI distributes property and casualty insurance through its wholly-owned branch offices that market to wholesale and retail producers. The company's insurance operation segments include Casualty, Property, and Surety and it derives a majority of its revenue from the Casualty segment.
<h3>RLI: A Financial Overview</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Positive Revenue Trend: Examining RLI's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 21.9% as of 31 March, 2024, showcasing a substantial increase in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Financials sector.
Net Margin: RLI's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 28.75%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): RLI's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 8.72%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 2.43%, the company showcases effective utilization of assets.
Debt Management: RLI's debt-to-equity ratio is below the industry average at 0.07, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Analyst Ratings: Simplified</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Demystifying RLI: Insights From 4 Analyst Reviews

Jefferies analyst Andrew Andersen maintains RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) with a Buy and lowers the price target from $170 to $165.

Jefferies Maintains Buy on RLI, Lowers Price Target to $165

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