Kinsale Capital Group (NYSE:KNSL) Trading 5.7% Higher After Better-Than-Expected Earnings

Key Points

• Kinsale Capital Group shares rose 5.7% after the company reported quarterly results that beat Wall Street expectations, with EPS of $5.54 versus estimates of $5.11.
• Revenue also topped forecasts, coming in at $548.52 million, well above the $445.13 million analyst consensus, and up 16.8% year over year.
• Analyst sentiment remains mixed, with several firms trimming price targets and the stock carrying an average “Reduce” rating and a $373.80 target price.

Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report)'s share price was up 5.7% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $355.15 and last traded at $351.3010. 97,180 shares were traded during trading, a decline of 66% from the average daily volume of 282,728 shares. The stock had previously closed at $332.28.

The financial services provider reported $5.54 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. During the same period in the previous year, the business posted $4.78 earnings per share. The business's revenue for the quarter was up 16.8% on a year-over-year basis.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a $0.25 dividend. The ex-dividend date was Thursday, May 28th. This represents a $1.00 annualized dividend and a yield of 0.3%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 4.40%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KNSL shares. Truist Financial decreased their target price on shares of Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a research note on Monday, April 27th. Royal Bank Of Canada dropped their price target on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating on the stock in a research note on Monday, April 27th. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Cantor Fitzgerald lowered their target price on Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. raised their target price on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a "neutral" rating in a research report on Monday. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $373.80.

Insider Transactions at Kinsale Capital Group

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

Institutional Trading of Kinsale Capital Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Isthmus Partners LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter worth approximately $8,110,000. Life Cycle Investment Partners Ltd bought a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $229,653,000. Tudor Investment Corp ET AL raised its position in shares of Kinsale Capital Group by 7,444.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider's stock valued at $16,041,000 after purchasing an additional 37,221 shares during the period. Stephens Investment Management Group LLC lifted its stake in shares of Kinsale Capital Group by 37.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 208,075 shares of the financial services provider's stock valued at $81,382,000 after buying an additional 56,916 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Kinsale Capital Group by 9.6% during the 4th quarter. Handelsbanken Fonder AB now owns 57,000 shares of the financial services provider's stock valued at $22,294,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Price Performance

The company has a market cap of $8.11 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The firm's fifty day moving average is $320.42 and its two-hundred day moving average is $349.36.

About Kinsale Capital Group

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.