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

Kinsale Capital Group (NYSE:KNSL) issued its earnings results on Thursday. The financial services provider reported $4.62 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.39, Zacks reports. The business had revenue of $412.12 million for the quarter, compared to analyst estimates 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 Trading Down 7.7 %

KNSL traded down $37.34 during trading hours on Friday, reaching $449.77. The company’s stock had a trading volume of 821,618 shares, compared to its average volume of 173,716. The business’s 50-day moving average is $461.05 and its 200-day moving average is $465.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $10.48 billion, a PE ratio of 25.64, a P/E/G ratio of 1.82 and a beta of 1.15. Kinsale Capital Group has a fifty-two week low of $355.12 and a fifty-two week high of $548.47.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be paid a $0.17 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.68 annualized dividend and a dividend yield of 0.15%. Kinsale Capital Group’s dividend payout ratio is 3.42%.

Wall Street Analyst Weigh In

KNSL has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. BMO Capital Markets raised their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research note on Thursday, November 21st. Morgan Stanley decreased their target price on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a research report on Friday. Truist Financial dropped 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. Finally, Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Kinsale Capital Group presently has an average rating of “Hold” and an average target price of $460.78.

Insider Buying and Selling at Kinsale Capital Group

In other news, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $3,672,456.92. This represents a 23.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the sale, the executive vice president now owns 6,994 shares of the company’s stock, valued at $3,566,940. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,235 shares of company stock worth $3,618,954 over the last quarter. 5.60% of the stock is currently owned by company insiders.

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.