Kinsale Capital Group (NYSE:KNSL) Releases Earnings Results, Beats Estimates By $0.39 EPS

Kinsale Capital Group (NYSE:KNSL) issued its quarterly earnings data on Thursday. The financial services provider reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.39, Zacks reports. The company had revenue of $412.12 million for the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%.

Kinsale Capital Group Stock Down 7.7 %

KNSL traded down $37.34 during midday trading on Friday, hitting $449.77. The company had a trading volume of 821,618 shares, compared to its average volume of 173,716. The stock’s 50 day moving average price is $461.05 and its 200 day moving average price is $465.71. Kinsale Capital Group has a 52 week low of $355.12 and a 52 week high of $548.47. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.82 and a beta of 1.15. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.42%.

Wall Street Analyst Weigh In

Several brokerages have commented on KNSL. BMO Capital Markets lifted their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. cut their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a report on Monday, October 28th. JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday. Finally, Truist Financial reduced their price objective on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has an average rating of “Hold” and a consensus price target of $460.78.

Insider Activity

In other Kinsale Capital Group news, Director James Joseph Ritchie sold 2,295 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the transaction, the director now directly owns 7,348 shares of the company’s stock, valued at approximately $3,672,456.92. This trade represents a 23.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the transaction, the director now owns 447 shares of the company’s stock, valued at $223,191.57. The trade was a 90.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,235 shares of company stock worth $3,618,954 in the last three months. Company 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.