Kinsale Capital Group (NYSE:KNSL) Issues Quarterly Earnings Results, Beats Expectations 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 (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.17, Briefing.com reports. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The firm had revenue of $372.79 million for the quarter, compared to the consensus estimate of $366.45 million. During the same quarter in the previous year, the firm posted $2.44 EPS. The firm’s quarterly revenue was up 41.7% on a year-over-year basis.

Kinsale Capital Group Stock Performance

Shares of NYSE KNSL traded down $74.81 during midday trading on Friday, hitting $378.28. The company’s stock had a trading volume of 684,217 shares, compared to its average volume of 188,048. Kinsale Capital Group has a 1-year low of $297.33 and a 1-year high of $548.47. The firm’s fifty day moving average price is $494.22 and its 200-day moving average price is $416.33. 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 cap of $8.77 billion, a P/E ratio of 28.78 and a beta of 0.89.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were issued a $0.15 dividend. The ex-dividend date was Monday, February 26th. This is a positive change 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 payout ratio is 4.54%.

Insider Activity

In other Kinsale Capital Group news, 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 directly owns 887 shares of the company’s stock, valued at approximately $464,867.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $2,094,920.00. Following the sale, the chief executive officer now directly owns 303,972 shares in the company, valued at approximately $159,199,255.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the sale, the director now owns 887 shares in the company, valued at $464,867.83. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BMO Capital Markets downgraded shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $434.00 to $544.00 in a research note on Wednesday, February 28th. JPMorgan Chase & Co. boosted 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. Truist Financial boosted 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, Royal Bank of Canada boosted 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Kinsale Capital Group presently has a consensus rating of “Hold” and a consensus target price 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.