Kinsale Capital Group (NYSE:KNSL) Issues Quarterly Earnings Results, Beats Expectations By $0.59 EPS

Kinsale Capital Group (NYSE:KNSL) issued its earnings results on Thursday. The financial services provider reported $5.70 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.59, FiscalAI reports. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The firm had revenue of $454.80 million for the quarter, compared to analysts’ expectations of $401.43 million. During the same quarter last year, the company earned $5.21 earnings per share.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $366.21 on Friday. The firm has a market capitalization of $8.34 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.19 and a beta of 0.88. Kinsale Capital Group has a 52 week low of $287.20 and a 52 week high of $438.74. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $360.05 and its two-hundred day moving average is $342.13.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 28th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, August 28th. Kinsale Capital Group’s dividend payout ratio is currently 4.05%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Kinsale Capital Group from $390.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Cantor Fitzgerald lifted their price objective on shares of Kinsale Capital Group from $259.00 to $264.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 7th. Wells Fargo & Company lowered their target price on shares of Kinsale Capital Group from $377.00 to $348.00 and set an “equal weight” rating for the company in a research note on Monday, October 12th. Weiss Ratings raised Kinsale Capital Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Finally, Citigroup restated a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Kinsale Capital Group presently has a consensus rating of “Reduce” and an average price target of $357.67.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc is a specialty insurance company headquartered in Richmond, Virginia. Through its insurance subsidiaries, the company focuses primarily on the excess and surplus lines market, providing coverage for risks that may be difficult to insure through standard commercial insurance channels.

Kinsale offers a range of commercial property and casualty products, including coverage for commercial property, general liability, professional liability, inland marine, commercial auto, workers’ compensation and other specialty risks.