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

Kinsale Capital Group (NYSE:KNSL) announced its quarterly earnings results on Thursday. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17, Briefing.com reports. The firm had revenue of $372.79 million during the quarter, compared to the consensus estimate of $366.45 million. Kinsale Capital Group had a return on equity of 31.52% and a net margin of 25.29%. The firm’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 earnings per share.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock traded down $78.45 during midday trading on Friday, reaching $374.64. The company’s stock had a trading volume of 802,508 shares, compared to its average volume of 189,947. Kinsale Capital Group has a fifty-two week low of $297.33 and a fifty-two week 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 stock’s 50 day simple moving average is $494.22 and its 200 day simple moving average is $416.33. The firm has a market capitalization of $8.69 billion, a PE ratio of 28.78 and a beta of 0.89.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, February 26th. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.54%.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the sale, the director now owns 887 shares of the company’s stock, valued at $464,867.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Michael P. Kehoe sold 4,000 shares of Kinsale Capital Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frederick L. Jr. Russell sold 2,000 shares of Kinsale Capital Group stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total value of $1,048,180.00. Following the sale, the director now owns 887 shares of the company’s stock, valued at approximately $464,867.83. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.