Kinsale Capital Group (NYSE:KNSL) Announces Earnings Results

Key Points

• Kinsale Capital Group beat expectations on both earnings and revenue, reporting quarterly EPS of $5.54 versus the $5.11 consensus and revenue of $548.52 million versus expectations of $445.13 million.
• The stock rose on the news, trading up $7.74 to $333.38, with volume notably above average as investors reacted to the stronger-than-expected results.
• The company also declared a quarterly dividend of $0.25 per share, while analysts currently hold a cautious view overall, with a consensus rating of “Reduce” and an average price target of $373.80.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) announced its earnings results on Thursday. The financial services provider reported $5.54 EPS for the quarter, beating analysts' consensus estimates of $5.11 by $0.43, FiscalAI reports. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The business had revenue of $548.52 million during the quarter, compared to analysts' expectations of $445.13 million.

Kinsale Capital Group Stock Performance

NYSE KNSL traded up $7.74 on Thursday, hitting $333.38. 479,779 shares of the company's stock were exchanged, compared to its average volume of 284,474. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The firm's 50-day moving average price is $319.83 and its two-hundred day moving average price is $349.77. Kinsale Capital Group has a fifty-two week low of $287.20 and a fifty-two week high of $512.76. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.09 and a beta of 0.90.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group's payout ratio is currently 4.40%.

Insider Activity

In related news, CEO Michael P. Kehoe sold 22,576 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the transaction, the chief executive officer owned 308,048 shares of the company's stock, valued at $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Salmaan K. Allibhai sold 250 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares of the company's stock, valued at approximately $1,134,214.65. This trade represents a 6.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.60% of the company's stock.

Institutional Trading of Kinsale Capital Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vident Advisory LLC raised its holdings in Kinsale Capital Group by 2.9% during the second quarter. Vident Advisory LLC now owns 825 shares of the financial services provider's stock worth $399,000 after purchasing an additional 23 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Kinsale Capital Group by 20.9% during the second quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider's stock valued at $77,000 after purchasing an additional 28 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Kinsale Capital Group by 7.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 596 shares of the financial services provider's stock worth $233,000 after buying an additional 39 shares during the last quarter. Synergy Financial Group LTD grew its position in Kinsale Capital Group by 1.6% in the third quarter. Synergy Financial Group LTD now owns 2,677 shares of the financial services provider's stock worth $1,139,000 after buying an additional 42 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in shares of Kinsale Capital Group by 4.6% in the fourth quarter. Aptus Capital Advisors LLC now owns 962 shares of the financial services provider's stock valued at $376,000 after buying an additional 42 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KNSL. Truist Financial lowered their price target on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating on the stock in a report on Monday, April 27th. Cantor Fitzgerald decreased their price objective on Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating for the company in a research report on Thursday, April 9th. TD Cowen reiterated a "hold" rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Royal Bank Of Canada dropped their target price on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating on the stock in a report on Monday, April 27th. Finally, Wells Fargo & Company upped their price target on Kinsale Capital Group from $357.00 to $366.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Kinsale Capital Group has a consensus rating of "Reduce" and an average price target of $373.80.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc NYSE: KNSL is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company's product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.

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.