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

Kinsale Capital Group (NYSE:KNSL) issued its quarterly earnings data on Thursday. The financial services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17, Briefing.com reports. The firm had revenue of $372.79 million for 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%. The firm’s revenue was up 41.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.44 EPS.

Kinsale Capital Group Trading Down 17.3 %

Shares of KNSL traded down $78.45 during mid-day trading on Friday, hitting $374.64. The company had a trading volume of 802,562 shares, compared to its average volume of 189,575. The business’s 50-day simple moving average is $494.22 and its 200-day simple moving average 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 1-year low of $297.33 and a 1-year high of $548.47. The stock has a market cap of $8.69 billion, a PE ratio of 28.78 and a beta of 0.89.

Kinsale Capital Group Increases Dividend

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

Insider Buying and Selling

In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 887 shares in the company, valued at $464,867.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael P. Kehoe sold 4,000 shares of Kinsale Capital Group stock in a transaction that occurred on Monday, March 4th. The shares were 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 owns 303,972 shares in the company, valued at $159,199,255.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick L. Jr. Russell sold 2,000 shares of Kinsale Capital Group stock in a transaction that occurred 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 sale, the director now owns 887 shares in the company, valued at approximately $464,867.83. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KNSL. JPMorgan Chase & Co. increased their price objective on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. BMO Capital Markets cut shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $434.00 to $544.00 in a research note on Wednesday, February 28th. Royal Bank of Canada raised their price target on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, Truist Financial raised their price target on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently 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.