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

Kinsale Capital Group (NYSE:KNSL) issued its quarterly 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. The company had revenue of $384.55 million during the quarter, compared to analysts’ expectations of $410.20 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.88 earnings per share.

Kinsale Capital Group Stock Up 17.6 %

Shares of KNSL traded up $66.54 during mid-day trading on Friday, reaching $443.79. The company had a trading volume of 504,919 shares, compared to its average volume of 187,220. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a 50-day moving average price of $386.43 and a 200 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. The company 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 Announces Dividend

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

Insider Transactions at Kinsale Capital Group

In other news, COO Brian D. Haney sold 3,778 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now directly 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 accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KNSL shares. Oppenheimer started coverage on Kinsale Capital Group in a report on Friday, July 12th. They issued a “market perform” rating on the stock. Truist Financial decreased their price target on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a research report on Monday, April 29th. 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 report on Monday, April 29th. BMO Capital Markets decreased their price target on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. raised their target price on Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.