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

Kinsale Capital Group (NYSE:KNSL) posted its quarterly earnings data on Thursday. The financial services provider reported $3.75 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.23, Briefing.com reports. The business had revenue of $384.55 million for the quarter, compared to analyst estimates of $410.20 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The company’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.88 earnings per share.

Kinsale Capital Group Stock Performance

NYSE:KNSL traded up $66.54 during mid-day trading on Friday, reaching $443.79. 504,919 shares of the stock were exchanged, 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. Kinsale Capital Group has a 1 year low of $325.01 and a 1 year high of $548.47. The company has a 50 day simple moving average of $385.37 and a 200-day simple moving average of $424.98. The stock has a market capitalization of $10.33 billion, a P/E ratio of 29.49, a P/E/G ratio of 1.66 and a beta of 1.06.

Kinsale Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Friday, May 31st were given a $0.15 dividend. The ex-dividend date 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 presently 3.99%.

Insider Activity

In other news, COO Brian D. Haney sold 3,778 shares of Kinsale Capital Group 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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on KNSL. BMO Capital Markets decreased their price objective on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Compass Point decreased their price target on shares of 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $425.00 price objective (down from $555.00) on shares of Kinsale Capital Group in a research report on Monday, April 29th. Truist Financial decreased their price objective on shares of 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. Finally, Oppenheimer initiated coverage on Kinsale Capital Group in a report on Friday, July 12th. They issued a “market perform” rating on the stock. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Kinsale Capital Group currently has a consensus rating of “Hold” and an average target price of $434.00.

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.