Zacks: Brokerages Anticipate Kinsale Capital Group, Inc. (NASDAQ:KNSL) Will Post Quarterly Sales of $49.40 Million
Analysts predict that Kinsale Capital Group, Inc. (NASDAQ:KNSL) will announce $49.40 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Kinsale Capital Group’s earnings, with the lowest sales estimate coming in at $47.26 million and the highest estimate coming in at $51.54 million. Kinsale Capital Group reported sales of $34.87 million during the same quarter last year, which would suggest a positive year over year growth rate of 41.7%. The business is scheduled to report its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Kinsale Capital Group will report full year sales of $49.40 million for the current financial year, with estimates ranging from $184.22 million to $194.80 million. For the next fiscal year, analysts expect that the firm will post sales of $219.24 million per share, with estimates ranging from $217.55 million to $220.92 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Kinsale Capital Group.
Several research firms have weighed in on KNSL. SunTrust Banks, Inc. restated a “buy” rating on shares of Kinsale Capital Group in a report on Monday, May 8th. Zacks Investment Research downgraded shares of Kinsale Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $38.00 target price on shares of Kinsale Capital Group in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Kinsale Capital Group currently has an average rating of “Buy” and an average price target of $30.75.
Shares of Kinsale Capital Group (KNSL) traded up 9.44% during midday trading on Tuesday, hitting $41.17. 143,099 shares of the company were exchanged. The firm has a market capitalization of $863.25 million and a price-to-earnings ratio of 73.00. Kinsale Capital Group has a one year low of $18.28 and a one year high of $42.09. The firm’s 50 day moving average price is $37.40 and its 200 day moving average price is $33.87.
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In other news, major shareholder Moelis Capital Partners Opport sold 4,307,774 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $31.60, for a total value of $136,125,658.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick L. Jr. Russell sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $31.60, for a total transaction of $7,900,000.00. The disclosure for this sale can be found here. Company insiders own 11.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Signature Financial Management Inc. bought a new stake in Kinsale Capital Group during the first quarter valued at $1,213,000. Hood River Capital Management LLC boosted its stake in shares of Kinsale Capital Group by 126.5% in the first quarter. Hood River Capital Management LLC now owns 298,918 shares of the financial services provider’s stock worth $9,577,000 after buying an additional 166,974 shares during the period. Thompson Davis & CO. Inc. boosted its stake in shares of Kinsale Capital Group by 332.2% in the first quarter. Thompson Davis & CO. Inc. now owns 16,836 shares of the financial services provider’s stock worth $539,000 after buying an additional 12,941 shares during the period. TFS Capital LLC acquired a new stake in shares of Kinsale Capital Group during the first quarter worth approximately $245,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Kinsale Capital Group by 18.8% in the first quarter. Ameriprise Financial Inc. now owns 48,603 shares of the financial services provider’s stock worth $1,557,000 after buying an additional 7,700 shares during the period. Hedge funds and other institutional investors own 59.41% of the company’s stock.
About Kinsale Capital Group
Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.
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