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

Kinsale Capital Group (NYSE:KNSL) released its quarterly earnings results on Thursday. The financial services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17, Briefing.com reports. The business had revenue of $372.79 million for the quarter, compared to the consensus estimate of $366.45 million. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 32.92%. Kinsale Capital Group’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL traded down $78.45 on Friday, hitting $374.64. 804,325 shares of the company were exchanged, compared to its average volume of 178,178. The company’s 50 day moving average price is $491.62 and its two-hundred day moving average price is $415.88. Kinsale Capital Group has a one year low of $297.33 and a one year high of $548.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 24.89 and a beta of 0.89.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.15 per share. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. Kinsale Capital Group’s payout ratio is presently 3.99%.

Analysts Set New Price Targets

KNSL has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a report on Monday, February 26th. BMO Capital Markets downgraded shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and raised their price target for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. Royal Bank of Canada lifted their target price on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Truist Financial lifted their target price on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $510.00.

Insider Transactions at Kinsale Capital Group

In other news, Director Frederick L. Jr. Russell sold 2,000 shares of Kinsale Capital Group stock in a transaction dated 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 directly owns 887 shares in the company, valued at approximately $464,867.83. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the transaction, the chief executive officer now directly owns 303,972 shares in the company, valued at $159,199,255.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 887 shares in the company, valued at $464,867.83. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

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.