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

Kinsale Capital Group (NYSE:KNSL) announced its earnings results on Thursday. The financial services provider reported $3.50 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 for the quarter, compared to analysts’ expectations of $366.45 million. Kinsale Capital Group had a return on equity of 32.92% and a net margin of 26.33%. Kinsale Capital Group’s quarterly revenue was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.44 EPS.

Kinsale Capital Group Trading Down 17.3 %

NYSE:KNSL traded down $78.45 during mid-day trading on Friday, reaching $374.64. The company’s stock had a trading volume of 804,325 shares, compared to its average volume of 178,178. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $8.69 billion, a P/E ratio of 24.89 and a beta of 0.89. The company’s fifty day simple moving average is $491.62 and its two-hundred day simple moving average is $415.75. Kinsale Capital Group has a twelve month low of $297.33 and a twelve month 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 given 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 yield of 0.16%. Kinsale Capital Group’s dividend payout ratio is 3.99%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KNSL. Royal Bank of Canada upped their price objective on Kinsale Capital Group from $410.00 to $555.00 and gave the company 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 upped their target price for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. Truist Financial raised their price target on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $510.00.

Insider Activity

In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the company’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 transaction of $1,048,180.00. Following the completion of the transaction, the director now owns 887 shares of the company’s stock, valued at $464,867.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction dated 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 directly 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 accessible through 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 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 directly owns 887 shares in the company, valued at $464,867.83. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

About Kinsale Capital Group

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.