Kinsale Capital Group (NYSE:KNSL) Trading 5.7% Higher After Better-Than-Expected Earnings

Kinsale Capital Group, Inc. (NYSE:KNSL)’s share price was up 5.7% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $355.15 and last traded at $351.3010. 97,180 shares were traded during trading, a decline of 66% from the average daily volume of 282,728 shares. The stock had previously closed at $332.28.

The financial services provider reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. During the same period in the previous year, the business posted $4.78 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a $0.25 dividend. The ex-dividend date was Thursday, May 28th. This represents a $1.00 annualized dividend and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.40%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KNSL shares. Truist Financial decreased their target price on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Royal Bank Of Canada dropped their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Cantor Fitzgerald lowered their target price on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. raised their target price on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a research report on Monday. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $373.80.

Insider Transactions at Kinsale Capital Group

In other news, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the transaction, the insider owned 3,645 shares in the company, valued at $1,134,214.65. This trade represents a 6.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the sale, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Isthmus Partners LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter worth approximately $8,110,000. Life Cycle Investment Partners Ltd bought a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $229,653,000. Tudor Investment Corp ET AL raised its position in shares of Kinsale Capital Group by 7,444.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock valued at $16,041,000 after purchasing an additional 37,221 shares during the period. Stephens Investment Management Group LLC lifted its stake in shares of Kinsale Capital Group by 37.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 208,075 shares of the financial services provider’s stock valued at $81,382,000 after buying an additional 56,916 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Kinsale Capital Group by 9.6% during the 4th quarter. Handelsbanken Fonder AB now owns 57,000 shares of the financial services provider’s stock valued at $22,294,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

The company has a market cap of $8.11 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The firm’s fifty day moving average is $320.42 and its two-hundred day moving average is $349.36.

About Kinsale Capital Group

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.