Kinsale Capital Group (NYSE:KNSL) Issues Quarterly Earnings Results

Kinsale Capital Group (NYSE:KNSL) issued its earnings results on Thursday. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping 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 company had revenue of $384.55 million for the quarter, compared to analysts’ expectations of $410.20 million. During the same period in the prior year, the business earned $2.88 EPS. The firm’s quarterly revenue was up 30.0% on a year-over-year basis.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL traded up $66.54 during trading on Friday, hitting $443.79. 504,919 shares of the stock traded hands, compared to its average volume of 187,220. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 1.66 and a beta of 1.06. The company has a fifty day moving average price of $386.43 and a two-hundred day moving average price of $425.55. Kinsale Capital Group has a 52-week low of $325.01 and a 52-week high of $548.47.

Kinsale Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Friday, May 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Friday, May 31st. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.99%.

Insider Buying and Selling

In related news, COO Brian D. Haney sold 3,778 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were 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 owns 95,850 shares of the company’s stock, valued at approximately $35,247,879. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.60% of the stock is owned by insiders.

Analyst Ratings Changes

KNSL has been the topic of a number of recent analyst reports. Compass Point lowered their price target on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Truist Financial lowered their price target on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a report on Monday, April 29th. BMO Capital Markets lowered their price target on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $425.00 price target (down from $555.00) on shares of Kinsale Capital Group in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Eight equities research 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 presently has an average rating of “Hold” and a consensus price target of $434.00.

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.