Kinsale Capital Group (NYSE:KNSL) Releases Quarterly Earnings Results, Beats Estimates By $0.39 EPS

Kinsale Capital Group (NYSE:KNSL) announced its quarterly earnings results on Thursday. The financial services provider reported $4.62 EPS for the quarter, topping the consensus estimate of $4.23 by $0.39, Zacks reports. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL traded down $39.81 during midday trading on Friday, reaching $447.31. 177,747 shares of the company’s stock were exchanged, compared to its average volume of 199,835. The firm has a market capitalization of $10.42 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 1.82 and a beta of 1.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. The company’s 50 day simple moving average is $461.05 and its two-hundred day simple moving average is $465.71. Kinsale Capital Group has a 12 month low of $355.12 and a 12 month high of $548.47.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.15%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.42%.

Insider Buying and Selling

In related news, Director James Joseph Ritchie sold 2,295 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the sale, the director now owns 7,348 shares in the company, valued at $3,672,456.92. This trade represents a 23.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the sale, the director now owns 447 shares of the company’s stock, valued at $223,191.57. The trade was a 90.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,235 shares of company stock worth $3,618,954 in the last quarter. 5.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

KNSL has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Morgan Stanley dropped their price target on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research note on Friday. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a report on Monday, October 28th. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $460.78.

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.