Kinsale Capital Group (NYSE:KNSL) Posts Quarterly Earnings Results, Beats Estimates By $0.23 EPS

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

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL traded up $66.54 on Friday, reaching $443.79. 504,919 shares of the company’s stock were exchanged, compared to its average volume of 187,220. The business’s 50-day moving average is $385.37 and its two-hundred day moving average is $424.98. 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 fifty-two week low of $325.01 and a fifty-two week high of $548.47. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of 29.49, a PEG 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 issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Friday, May 31st. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Analyst Ratings Changes

A number of research firms have weighed in on KNSL. JPMorgan Chase & Co. upped their price objective on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. BMO Capital Markets reduced their price target on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Truist Financial dropped 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. Compass Point reduced their target price 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. Finally, TD Cowen started coverage on shares of Kinsale Capital Group in a research report on Monday, May 20th. They set a “hold” rating and a $403.00 price target for the company. 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.com, the company has a consensus rating of “Hold” and a consensus target price of $434.00.

Insider Activity

In related news, COO Brian D. Haney sold 3,778 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the sale, the chief operating officer now owns 95,850 shares in the company, valued at $35,247,879. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.60% of the company’s stock.

About Kinsale Capital Group

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.