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

Kinsale Capital Group (NYSE:KNSL) announced its 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. Kinsale Capital Group had a return on equity of 31.73% and a net margin of 26.08%. The company had revenue of $384.55 million for the quarter, compared to the consensus estimate of $410.20 million. During the same period last year, the business posted $2.88 EPS. The company’s revenue was up 30.0% on a year-over-year basis.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL traded up $66.04 during trading on Friday, reaching $443.29. The company had a trading volume of 504,998 shares, compared to its average volume of 157,270. Kinsale Capital Group has a twelve month low of $325.01 and a twelve month high of $548.47. The stock has a market capitalization of $10.32 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. The stock has a 50-day moving average price of $386.43 and a two-hundred day moving average price of $426.00. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Friday, May 31st were issued a $0.15 dividend. 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 Kinsale Capital Group stock in a transaction 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 completion of the sale, the chief operating officer now owns 95,850 shares of the company’s stock, valued at $35,247,879. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. BMO Capital Markets reduced their price target on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Truist Financial reduced their price target on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a report on Monday, April 29th. TD Cowen assumed coverage on Kinsale Capital Group in a report on Monday, May 20th. They issued a “hold” rating and a $403.00 price target for the company. Oppenheimer assumed coverage on Kinsale Capital Group in a report on Friday, July 12th. They issued a “market perform” rating for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $425.00 price target (down from $555.00) on shares of Kinsale Capital Group in a report on Monday, April 29th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and an average price target 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.