Kinsale Capital Group (NYSE:KNSL) Posts Quarterly Earnings Results, Beats Estimates By $0.46 EPS

Kinsale Capital Group (NYSE:KNSL) released its earnings results on Thursday. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $4.65 by $0.46, FiscalAI reports. The company had revenue of $466.71 million during the quarter, compared to analysts’ expectations of $410.25 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.

Kinsale Capital Group Stock Performance

Shares of KNSL stock traded down $0.98 on Thursday, hitting $348.53. 332,898 shares of the stock traded hands, compared to its average volume of 246,799. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market capitalization of $8.07 billion, a PE ratio of 16.08, a PEG ratio of 1.18 and a beta of 1.08. Kinsale Capital Group has a 1-year low of $321.97 and a 1-year high of $512.76. The company’s fifty day moving average is $359.42 and its 200 day moving average is $387.92.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 26th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s dividend payout ratio is currently 4.61%.

Analyst Ratings Changes

Several research firms have recently commented on KNSL. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Jefferies Financial Group cut Kinsale Capital Group from a “hold” rating to an “underperform” rating and reduced their target price for the company from $392.00 to $312.00 in a research note on Thursday, March 19th. Cantor Fitzgerald dropped their price target on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Morgan Stanley reissued an “equal weight” rating and set a $350.00 price target (down from $450.00) on shares of Kinsale Capital Group in a research report on Monday, April 6th. Finally, Wells Fargo & Company dropped their price target on Kinsale Capital Group from $447.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $405.45.

Institutional Investors Weigh In On Kinsale Capital Group

Several institutional investors and hedge funds have recently made changes to their positions in KNSL. Johnson Financial Group Inc. increased its position in Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after buying an additional 54 shares during the period. Darwin Wealth Management LLC acquired a new stake in Kinsale Capital Group in the second quarter worth $38,000. Larson Financial Group LLC increased its position in Kinsale Capital Group by 225.0% in the third quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock worth $33,000 after buying an additional 54 shares during the period. EverSource Wealth Advisors LLC increased its position in Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after buying an additional 43 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Kinsale Capital Group in the fourth quarter worth $43,000. 85.36% of the stock is owned by institutional investors and hedge funds.

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.