Kinsale Capital Group (NYSE:KNSL) Releases Quarterly Earnings Results, Beats Estimates By $0.42 EPS

Key Points

• Kinsale Capital Group reported quarterly earnings of $5.21 per share, exceeding analysts' expectations of $4.66 by $0.55.
• The company announced a quarterly dividend of $0.17 per share, with an annualized dividend yield of 0.1% and a payout ratio of 3.55%.
• Institutional investors have significantly increased their stakes in Kinsale Capital Group, with notable increases from firms like Orion Portfolio Solutions and Bank of America Corp.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) announced its quarterly earnings results on Thursday. The financial services provider reported $5.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.79 by $0.42, Zacks reports. The company had revenue of $405.06 million for the quarter, compared to the consensus estimate of $446.00 million. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%.Kinsale Capital Group's revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.20 EPS.

Kinsale Capital Group Stock Up 0.4%

KNSL opened at $454.19 on Friday. The stock's fifty day simple moving average is $447.35 and its 200 day simple moving average is $459.37. The stock has a market cap of $10.58 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 1-year low of $405.00 and a 1-year high of $531.79.

Kinsale Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, August 29th. Kinsale Capital Group's payout ratio is currently 3.55%.

Institutional Trading of Kinsale Capital Group

Institutional investors have recently added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC increased its position in Kinsale Capital Group by 1,141.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 81,724 shares of the financial services provider's stock valued at $39,546,000 after buying an additional 75,141 shares in the last quarter. Bank of America Corp DE grew its position in Kinsale Capital Group by 22.7% during the 2nd quarter. Bank of America Corp DE now owns 160,206 shares of the financial services provider's stock worth $77,524,000 after purchasing an additional 29,610 shares during the period. Balyasny Asset Management L.P. lifted its stake in Kinsale Capital Group by 40.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 21,853 shares of the financial services provider's stock valued at $10,575,000 after buying an additional 6,281 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Kinsale Capital Group by 3.2% during the 2nd quarter. Alliancebernstein L.P. now owns 193,885 shares of the financial services provider's stock valued at $93,821,000 after buying an additional 5,997 shares during the period. Finally, Raymond James Financial Inc. raised its position in Kinsale Capital Group by 9.9% in the second quarter. Raymond James Financial Inc. now owns 43,059 shares of the financial services provider's stock valued at $20,836,000 after purchasing an additional 3,869 shares during the period. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analyst Ratings Changes

KNSL has been the topic of several analyst reports. Cantor Fitzgerald raised Kinsale Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Kinsale Capital Group in a research report on Wednesday, October 8th. Morgan Stanley lowered their price objective on shares of Kinsale Capital Group from $525.00 to $500.00 and set an "overweight" rating for the company in a research note on Tuesday, October 7th. JPMorgan Chase & Co. boosted their target price on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, Compass Point boosted their target price on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $506.89.

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.