$76.24 Million in Sales Expected for Kinsale Capital Group Inc (NASDAQ:KNSL) This Quarter

Equities analysts expect Kinsale Capital Group Inc (NASDAQ:KNSL) to announce $76.24 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Kinsale Capital Group’s earnings, with estimates ranging from $76.13 million to $76.34 million. Kinsale Capital Group posted sales of $60.14 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.8%. The business is scheduled to issue its next earnings results on Thursday, November 7th.

On average, analysts expect that Kinsale Capital Group will report full year sales of $301.29 million for the current financial year, with estimates ranging from $300.75 million to $301.83 million. For the next fiscal year, analysts forecast that the firm will post sales of $352.04 million, with estimates ranging from $345.04 million to $359.03 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Kinsale Capital Group.

Kinsale Capital Group (NASDAQ:KNSL) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. Kinsale Capital Group had a net margin of 18.67% and a return on equity of 16.78%. The firm had revenue of $72.57 million during the quarter, compared to analyst estimates of $69.49 million.

A number of brokerages have recently commented on KNSL. SunTrust Banks boosted their price objective on Kinsale Capital Group from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. They noted that the move was a valuation call. Zacks Investment Research raised Kinsale Capital Group from a “hold” rating to a “strong-buy” rating and set a $104.00 target price for the company in a report on Tuesday, August 6th. BidaskClub cut Kinsale Capital Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 11th. JMP Securities started coverage on Kinsale Capital Group in a report on Friday, September 6th. They issued a “market perform” rating for the company. Finally, ValuEngine lowered Kinsale Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Kinsale Capital Group presently has an average rating of “Buy” and a consensus target price of $96.00.

In other news, COO Brian D. Haney sold 2,250 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $94.58, for a total value of $212,805.00. Following the sale, the chief operating officer now owns 177,249 shares of the company’s stock, valued at $16,764,210.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frederick L. Jr. Russell sold 3,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $96.53, for a total transaction of $289,590.00. Following the completion of the sale, the director now directly owns 1,170 shares in the company, valued at approximately $112,940.10. The disclosure for this sale can be found here. In the last three months, insiders sold 23,500 shares of company stock worth $2,236,398. Insiders own 8.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of KNSL. Invesco Ltd. boosted its holdings in Kinsale Capital Group by 1,039.4% in the 2nd quarter. Invesco Ltd. now owns 361,605 shares of the financial services provider’s stock worth $33,080,000 after buying an additional 329,869 shares during the period. JPMorgan Chase & Co. boosted its holdings in Kinsale Capital Group by 8.9% in the 1st quarter. JPMorgan Chase & Co. now owns 1,459,597 shares of the financial services provider’s stock worth $100,084,000 after buying an additional 119,082 shares during the period. Nuveen Asset Management LLC boosted its holdings in Kinsale Capital Group by 297.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 158,670 shares of the financial services provider’s stock worth $14,515,000 after buying an additional 118,755 shares during the period. Victory Capital Management Inc. boosted its holdings in Kinsale Capital Group by 48.3% in the 2nd quarter. Victory Capital Management Inc. now owns 309,706 shares of the financial services provider’s stock worth $28,332,000 after buying an additional 100,900 shares during the period. Finally, BlackRock Inc. boosted its holdings in Kinsale Capital Group by 5.0% in the 2nd quarter. BlackRock Inc. now owns 1,796,938 shares of the financial services provider’s stock worth $164,384,000 after buying an additional 85,757 shares during the period. 81.76% of the stock is currently owned by institutional investors.

Shares of Kinsale Capital Group stock traded down $1.70 on Wednesday, reaching $99.47. 218,815 shares of the company were exchanged, compared to its average volume of 129,176. Kinsale Capital Group has a 1-year low of $50.34 and a 1-year high of $104.76. The company has a market cap of $2.13 billion, a P/E ratio of 55.57 and a beta of 0.50. The stock’s 50 day moving average price is $96.84 and its 200-day moving average price is $84.51.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Wednesday, August 28th. Kinsale Capital Group’s dividend payout ratio is currently 17.88%.

About Kinsale Capital Group

Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess and general casualty, life sciences, allied health, health care, commercial property, environmental, public entity, inland marine, and commercial insurance, as well as product, professional, and management liability insurance; and homeowners insurance.

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