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

Kinsale Capital Group (NYSE:KNSL) announced its quarterly earnings results on Thursday. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.23, Briefing.com reports. The firm had revenue of $384.55 million for the quarter, compared to the consensus estimate of $410.20 million. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 31.73%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.88 EPS.

Kinsale Capital Group Stock Performance

NYSE KNSL traded up $66.04 on Friday, reaching $443.29. 504,998 shares of the stock were exchanged, compared to its average volume of 157,270. The firm has a market capitalization of $10.32 billion, a PE ratio of 29.45, a PEG ratio of 1.97 and a beta of 1.06. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.16. Kinsale Capital Group has a one year low of $325.01 and a one year high of $548.47. The company’s 50-day simple moving average is $386.43 and its two-hundred day simple moving average is $426.00.

Kinsale Capital Group Dividend Announcement

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

Insider Activity

In other news, COO Brian D. Haney sold 3,778 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the sale, the chief operating officer now owns 95,850 shares in the company, valued at $35,247,879. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KNSL shares. Truist Financial dropped their price target on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a report on Monday, April 29th. BMO Capital Markets lowered their price objective on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th. Oppenheimer began coverage on shares of Kinsale Capital Group in a research note on Friday, July 12th. They issued a “market perform” rating on the stock. Compass Point lowered their price objective on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $425.00 price objective (down previously from $555.00) on shares of Kinsale Capital Group in a research note on Monday, April 29th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average 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.