Kinsale Capital Group (NYSE:KNSL) Announces Earnings Results, Beats Expectations By $0.59 EPS

Key Points

• Kinsale Capital Group beat quarterly expectations: It reported EPS of $5.70, exceeding the $5.11 consensus by $0.59, while revenue reached $454.80 million versus estimates of $401.43 million.
• Shares rose 3.8% to $390.85 following the results. The company posted a 28.49% net margin and 25.54% return on equity.
• Analysts remain cautious: The stock has a consensus “Reduce” rating and an average price target of $357.67, below its trading price, despite the earnings beat. Kinsale also maintains a quarterly dividend of $0.25 per share.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) issued its quarterly earnings data on Thursday. The financial services provider reported $5.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.59, FiscalAI reports. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The company had revenue of $454.80 million during the quarter, compared to the consensus estimate of $401.43 million.

Kinsale Capital Group Stock Up 3.8%

NYSE:KNSL traded up $14.14 during trading hours on Thursday, reaching $390.85. 322,716 shares of the stock were exchanged, compared to its average volume of 267,636. Kinsale Capital Group has a twelve month low of $287.20 and a twelve month high of $462.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a 50 day moving average of $359.77 and a 200 day moving average of $341.81. The stock has a market cap of $8.90 billion, a PE ratio of 15.84, a PEG ratio of 1.17 and a beta of 0.88.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 28th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group's dividend payout ratio is 4.05%.

Analysts Set New Price Targets

Several equities research analysts recently commented on KNSL shares. Weiss Ratings raised shares of Kinsale Capital Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, October 6th. JPMorgan Chase & Co. reduced their target price on shares of Kinsale Capital Group from $390.00 to $375.00 and set a "neutral" rating for the company in a research note on Friday, October 9th. Wells Fargo & Company lowered their target price on Kinsale Capital Group from $377.00 to $348.00 and set an "equal weight" rating for the company in a report on Monday, October 12th. Cantor Fitzgerald increased their target price on Kinsale Capital Group from $259.00 to $264.00 and gave the stock a "neutral" rating in a report on Wednesday, October 7th. Finally, Morgan Stanley dropped their price target on Kinsale Capital Group from $390.00 to $350.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Kinsale Capital Group currently has an average rating of "Reduce" and a consensus price target of $357.67.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc is a specialty insurance company headquartered in Richmond, Virginia. Through its insurance subsidiaries, the company focuses primarily on the excess and surplus lines market, providing coverage for risks that may be difficult to insure through standard commercial insurance channels.

Kinsale offers a range of commercial property and casualty products, including coverage for commercial property, general liability, professional liability, inland marine, commercial auto, workers' compensation and other specialty risks.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.