Kinsale Capital Group (NYSE:KNSL) Releases Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Kinsale Capital Group (NYSE:KNSL - Get Free Report) announced its quarterly earnings data on Thursday. The financial services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.17, Briefing.com reports. Kinsale Capital Group had a return on equity of 31.52% and a net margin of 25.29%. The company had revenue of $372.79 million during the quarter, compared to analyst estimates of $366.45 million. During the same quarter last year, the firm posted $2.44 EPS. The firm's revenue for the quarter was up 41.7% on a year-over-year basis.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL traded down $78.45 during midday trading on Friday, hitting $374.64. 802,508 shares of the company's stock were exchanged, compared to its average volume of 189,958. Kinsale Capital Group has a 12-month low of $297.33 and a 12-month high of $548.47. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 28.36 and a beta of 0.89. The business's fifty day moving average price is $491.62 and its two-hundred day moving average price is $415.88.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.15 per share. This is a positive change from Kinsale Capital Group's previous quarterly dividend of $0.14. The ex-dividend date was Monday, February 26th. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. Kinsale Capital Group's payout ratio is presently 4.54%.

Insider Transactions at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 4,000 shares of the business's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the transaction, the chief executive officer now owns 303,972 shares of the company's stock, valued at $159,199,255.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the sale, the director now owns 887 shares in the company, valued at approximately $464,867.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Kehoe sold 4,000 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares of the company's stock, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KNSL shares. JPMorgan Chase & Co. lifted their price objective on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a "neutral" rating in a report on Monday, February 26th. BMO Capital Markets lowered Kinsale Capital Group from an "outperform" rating to a "market perform" rating and lifted their target price for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. Royal Bank of Canada lifted their target price on Kinsale Capital Group from $410.00 to $555.00 and gave the company an "outperform" rating in a report on Tuesday, February 20th. Finally, Truist Financial lifted their target price on Kinsale Capital Group from $450.00 to $600.00 and gave the company a "buy" rating in a report on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $510.00.

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.