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

Kinsale Capital Group (NYSE:KNSL) released its quarterly earnings results on Thursday. The financial services provider reported $5.54 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.43, FiscalAI reports. The business had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.

Kinsale Capital Group Stock Up 2.4%

Shares of NYSE KNSL traded up $7.74 during mid-day trading on Thursday, reaching $333.38. The company had a trading volume of 479,779 shares, compared to its average volume of 284,474. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.09 and a beta of 0.90. The stock has a fifty day moving average of $319.83 and a two-hundred day moving average of $349.77. Kinsale Capital Group has a 12-month low of $287.20 and a 12-month high of $512.76.

Kinsale Capital Group Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a report on Monday. Wells Fargo & Company lifted their target price on shares of Kinsale Capital Group from $357.00 to $366.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Royal Bank Of Canada cut their price target on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Truist Financial decreased their price objective on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Finally, TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group presently has a consensus rating of “Reduce” and a consensus target price of $373.80.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, insider Salmaan K. Allibhai sold 250 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the transaction, the insider owned 3,645 shares in the company, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the sale, the chief executive officer owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their position. The SEC filing for this sale provides additional information. 5.60% of the stock is currently owned by insiders.

Institutional Trading of Kinsale Capital Group

A number of institutional investors have recently bought and sold shares of the company. Orion Porfolio Solutions LLC boosted its stake in shares of Kinsale Capital Group by 1,141.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 81,724 shares of the financial services provider’s stock worth $39,546,000 after acquiring an additional 75,141 shares in the last quarter. Millennium Management LLC raised its stake in shares of Kinsale Capital Group by 1,000.8% in the 4th quarter. Millennium Management LLC now owns 81,942 shares of the financial services provider’s stock valued at $32,049,000 after acquiring an additional 74,498 shares in the last quarter. Spyglass Capital Management LLC lifted its holdings in Kinsale Capital Group by 37.5% in the 4th quarter. Spyglass Capital Management LLC now owns 197,186 shares of the financial services provider’s stock worth $77,123,000 after purchasing an additional 53,801 shares during the last quarter. DF Dent & Co. Inc. lifted its holdings in Kinsale Capital Group by 19.2% in the 4th quarter. DF Dent & Co. Inc. now owns 315,756 shares of the financial services provider’s stock worth $123,498,000 after purchasing an additional 50,846 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Kinsale Capital Group by 15.1% during the third quarter. Dimensional Fund Advisors LP now owns 273,724 shares of the financial services provider’s stock valued at $116,390,000 after purchasing an additional 35,864 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Company Profile

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.