Analysts Expect Kinsale Capital Group Inc (KNSL) Will Post Quarterly Sales of $57.62 Million

Wall Street analysts expect that Kinsale Capital Group Inc (NASDAQ:KNSL) will report sales of $57.62 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Kinsale Capital Group’s earnings. The highest sales estimate is $58.65 million and the lowest is $56.59 million. Kinsale Capital Group posted sales of $47.84 million during the same quarter last year, which would indicate a positive year over year growth rate of 20.4%. The company is scheduled to announce its next earnings results after the market closes on Thursday, November 1st.

According to Zacks, analysts expect that Kinsale Capital Group will report full year sales of $222.16 million for the current year, with estimates ranging from $220.76 million to $223.56 million. For the next year, analysts forecast that the firm will post sales of $257.60 million, with estimates ranging from $254.88 million to $260.32 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Kinsale Capital Group.

Kinsale Capital Group (NASDAQ:KNSL) last announced its quarterly earnings results on Tuesday, August 7th. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $54.95 million during the quarter, compared to analyst estimates of $53.63 million. Kinsale Capital Group had a net margin of 13.52% and a return on equity of 12.59%.



A number of brokerages have commented on KNSL. Zacks Investment Research upgraded shares of Kinsale Capital Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 10th. BidaskClub lowered shares of Kinsale Capital Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. SunTrust Banks reissued a “buy” rating and issued a $65.00 price objective on shares of Kinsale Capital Group in a research report on Wednesday, August 8th. Royal Bank of Canada reissued a “buy” rating and issued a $61.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, August 7th. Finally, TheStreet raised shares of Kinsale Capital Group from a “c” rating to a “b-” rating in a research report on Friday, July 27th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $61.33.

In other news, Director Frederick L. Jr. Russell sold 1,000 shares of the stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $59.32, for a total value of $59,320.00. Following the transaction, the director now directly owns 1,111 shares of the company’s stock, valued at $65,904.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Kehoe sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $60.02, for a total transaction of $600,200.00. Following the transaction, the chief executive officer now directly owns 352,339 shares in the company, valued at $21,147,386.78. The disclosure for this sale can be found here. Insiders sold 32,750 shares of company stock worth $1,981,170 over the last three months. Insiders own 8.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Hartford Investment Management Co. bought a new position in Kinsale Capital Group during the second quarter worth about $329,000. Metropolitan Life Insurance Co. NY increased its position in Kinsale Capital Group by 29.2% during the second quarter. Metropolitan Life Insurance Co. NY now owns 6,477 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 1,463 shares during the period. Voya Investment Management LLC increased its position in Kinsale Capital Group by 14.9% during the second quarter. Voya Investment Management LLC now owns 7,075 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 915 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in Kinsale Capital Group during the second quarter worth about $410,000. Finally, First Mercantile Trust Co. increased its position in Kinsale Capital Group by 13.8% during the second quarter. First Mercantile Trust Co. now owns 7,839 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 950 shares during the period. 82.64% of the stock is currently owned by institutional investors and hedge funds.

KNSL stock traded down $0.10 during trading hours on Monday, reaching $57.70. The stock had a trading volume of 38,000 shares, compared to its average volume of 83,747. The stock has a market cap of $1.35 billion, a P/E ratio of 46.15 and a beta of 0.14. Kinsale Capital Group has a fifty-two week low of $41.40 and a fifty-two week high of $64.97.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess casualty, general casualty, product liability, professional liability, life sciences, allied health, health care, commercial property, management liability, environmental, public entity, inland marine, and commercial insurance, as well as homeowners insurance.

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Earnings History and Estimates for Kinsale Capital Group (NASDAQ:KNSL)

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