Kinsale Capital Group (NYSE:KNSL) Issues Quarterly Earnings Results, Beats Estimates By $0.43 EPS

Kinsale Capital Group (NYSE:KNSL) announced its earnings results on Thursday. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.43, FiscalAI reports. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The company had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. During the same period in the prior year, the company posted $4.78 EPS. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year.

Kinsale Capital Group Stock Up 2.4%

NYSE:KNSL opened at $333.38 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The company’s fifty day moving average price is $320.42 and its 200-day moving average price is $349.36. Kinsale Capital Group has a 1-year low of $287.20 and a 1-year high of $512.76. The firm has a market capitalization of $7.69 billion, a P/E ratio of 14.67, a PEG ratio of 1.05 and a beta of 0.90.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is presently 4.40%.

Insider Activity at Kinsale Capital Group

In related news, insider Salmaan K. Allibhai sold 250 shares of the business’s 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 completion of the transaction, the insider directly owned 3,645 shares in the company, valued at $1,134,214.65. The trade was a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the sale, the chief executive officer directly owned 308,048 shares in the company, valued at $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Arkadios Wealth Advisors acquired a new stake in Kinsale Capital Group during the fourth quarter valued at $241,000. Integrated Investment Consultants LLC acquired a new position in shares of Kinsale Capital Group in the third quarter worth about $213,000. PharVision Advisers LLC acquired a new position in shares of Kinsale Capital Group in the third quarter worth about $202,000. Brown Brothers Harriman & Co. boosted its stake in shares of Kinsale Capital Group by 3,093.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 511 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 495 shares in the last quarter. Finally, Florida Financial Advisors LLC boosted its stake in shares of Kinsale Capital Group by 12.7% during the 2nd quarter. Florida Financial Advisors LLC now owns 489 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 55 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KNSL. Cantor Fitzgerald lowered their price target on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Weiss Ratings cut shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Finally, Morgan Stanley lowered their target price on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $373.80.

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.