Kinsale Capital Group (NYSE:KNSL) Announces Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Kinsale Capital Group (NYSE:KNSL) posted its quarterly earnings data on Thursday. The financial services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.17, Briefing.com reports. The business had revenue of $372.79 million during the quarter, compared to analysts’ expectations of $366.45 million. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. Kinsale Capital Group’s revenue was up 41.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.44 earnings per share.

Kinsale Capital Group Stock Down 17.3 %

KNSL stock traded down $78.45 during midday trading on Friday, reaching $374.64. 802,508 shares of the company’s stock traded hands, compared to its average volume of 189,947. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 28.78 and a beta of 0.89. The firm’s fifty day moving average price is $494.22 and its 200-day moving average price is $416.33. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.17. Kinsale Capital Group has a 52 week low of $297.33 and a 52 week high of $548.47.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were paid a $0.15 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. Kinsale Capital Group’s payout ratio is currently 4.54%.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of Kinsale Capital Group stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the transaction, the director now directly owns 887 shares of the company’s stock, valued at approximately $464,867.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Michael P. Kehoe sold 4,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the sale, the chief executive officer now directly owns 303,972 shares in the company, valued at $159,199,255.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the sale, the director now owns 887 shares in the company, valued at $464,867.83. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on KNSL. Truist Financial upped their price objective on Kinsale Capital Group from $450.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. increased their target price on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. BMO Capital Markets downgraded shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and increased their target price for the company from $434.00 to $544.00 in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada increased their target price on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $510.00.

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.