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

Kinsale Capital Group (NYSE:KNSL) released 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 firm had revenue of $372.79 million for the quarter, compared to analyst estimates of $366.45 million. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 32.92%. The business’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 earnings per share.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL traded down $78.45 during midday trading on Friday, reaching $374.64. 804,325 shares of the company’s stock traded hands, compared to its average volume of 178,178. The company has a fifty day simple moving average of $491.62 and a two-hundred day simple moving average of $415.75. Kinsale Capital Group has a 1 year low of $297.33 and a 1 year high of $548.47. The company has a market cap of $8.69 billion, a P/E ratio of 24.89 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.12 and a current ratio of 0.12.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, February 26th. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Insider Buying and Selling

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the stock in a transaction 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 transaction, the director now directly owns 887 shares of the company’s stock, valued at $464,867.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 887 shares in the company, valued at approximately $464,867.83. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were 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 of the company’s stock, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KNSL has been the topic of several analyst reports. Truist Financial increased their price target on Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. BMO Capital Markets downgraded Kinsale Capital Group from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. JPMorgan Chase & Co. raised their price objective on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada boosted their target price on shares of 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $510.00.

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.