Kinsale Capital Group (NYSE:KNSL) Announces Earnings Results

Kinsale Capital Group (NYSE:KNSL) issued its earnings results on Thursday. The financial services provider reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.23, Briefing.com reports. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The firm had revenue of $384.55 million for the quarter, compared to the consensus estimate of $410.20 million. During the same quarter in the previous year, the company posted $2.88 earnings per share. The business’s quarterly revenue was up 30.0% compared to the same quarter last year.

Kinsale Capital Group Price Performance

KNSL traded up $66.54 during trading on Friday, hitting $443.79. The company’s stock had a trading volume of 504,919 shares, compared to its average volume of 187,220. The firm’s 50 day moving average price is $386.43 and its two-hundred day moving average price is $425.55. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16. Kinsale Capital Group has a 12 month low of $325.01 and a 12 month high of $548.47. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 29.49, a price-to-earnings-growth ratio of 1.66 and a beta of 1.06.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Friday, May 31st were given a $0.15 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.60 annualized dividend and a yield of 0.14%. Kinsale Capital Group’s payout ratio is 3.99%.

Analyst Upgrades and Downgrades

KNSL has been the subject of several recent analyst reports. Compass Point decreased their price target on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. JPMorgan Chase & Co. increased their price objective on Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $425.00 price objective (down previously from $555.00) on shares of Kinsale Capital Group in a report on Monday, April 29th. Oppenheimer initiated coverage on Kinsale Capital Group in a report on Friday, July 12th. They set a “market perform” rating on the stock. Finally, Truist Financial lowered their price objective on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $434.00.

Insider Buying and Selling at Kinsale Capital Group

In other news, COO Brian D. Haney sold 3,778 shares of Kinsale Capital Group stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the completion of the sale, the chief operating officer now directly owns 95,850 shares of the company’s stock, valued at approximately $35,247,879. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.