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

Kinsale Capital Group (NYSE:KNSL) issued its quarterly earnings data on Thursday. The financial services provider reported $3.50 earnings per share for the quarter, topping 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 analyst estimates of $366.45 million. Kinsale Capital Group had a return on equity of 31.52% and a net margin of 25.29%. Kinsale Capital Group’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 EPS.

Kinsale Capital Group Trading Down 17.3 %

NYSE KNSL traded down $78.45 during trading hours on Friday, hitting $374.64. 802,562 shares of the company’s stock were exchanged, compared to its average volume of 189,575. The stock has a 50-day simple moving average of $494.22 and a 200 day simple moving average of $416.33. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 28.78 and a beta of 0.89. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.17. Kinsale Capital Group has a 1-year low of $297.33 and a 1-year high of $548.47.

Kinsale Capital Group Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was 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 owns 303,972 shares in the company, valued at $159,199,255.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was 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 owns 303,972 shares in the company, valued at $159,199,255.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the transaction, the director now owns 887 shares in the company, valued at approximately $464,867.83. The disclosure for this sale can be found here. Corporate 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.