Kinsale Capital Group (NYSE:KNSL) Announces Earnings Results

Kinsale Capital Group (NYSE:KNSL) released its earnings results on Thursday. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.43, FiscalAI reports. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.89%. The company had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. During the same period in the prior year, the company posted $4.78 EPS. The company’s revenue was up 16.8% compared to the same quarter last year.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $348.70 on Friday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 12-month low of $287.20 and a 12-month high of $512.76. The company’s 50 day moving average price is $321.17 and its two-hundred day moving average price is $349.35. The firm has a market cap of $8.04 billion, a PE ratio of 14.13, a PEG ratio of 1.07 and a beta of 0.90.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is presently 4.05%.

More Kinsale Capital Group News

Here are the key news stories impacting Kinsale Capital Group this week:

• Positive Sentiment: Kinsale delivered a major Q2 earnings beat, with both profit and revenue topping estimates and revenue rising 16.8% from a year ago. Article title: Kinsale Capital Group, Inc. (KNSL) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Higher underwriting income and investment income helped drive the quarter’s outperformance, signaling continued profitability strength. Article title: KNSL Q2 Earnings Beat on Higher Underwriting & Investment Income
• Positive Sentiment: The company authorized a new $337 million share buyback, which can support the stock by reducing share count and signaling confidence in capital strength. Article title: Kinsale outlines $337M buyback authorization as commercial property volume shrinks in competitive market
• Neutral Sentiment: Commentary around Kinsale being a “strong momentum” and “top value” stock is supportive, but it is more of a ratings/market commentary theme than a direct operational catalyst. Article title: Here’s Why Kinsale Capital Group, Inc. (KNSL) is a Strong Momentum Stock
• Neutral Sentiment: Reports noting tougher competition and shrinking commercial property volume suggest some underwriting headwinds, but the market appears focused more on the earnings beat and buyback than on those pressures. Article title: Kinsale outlines $337M buyback authorization as commercial property volume shrinks in competitive market

Wall Street Analyst Weigh In

Several research firms recently commented on KNSL. Royal Bank Of Canada cut their price objective on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. Wells Fargo & Company increased their price objective on Kinsale Capital Group from $357.00 to $366.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Morgan Stanley dropped their target price on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. JPMorgan Chase & Co. boosted their target price on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, Weiss Ratings downgraded Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Kinsale Capital Group presently has a consensus rating of “Reduce” and a consensus price target of $373.80.

Insiders Place Their Bets

In other news, CEO Michael P. Kehoe sold 22,576 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the transaction, the chief executive officer owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the sale, the insider owned 3,645 shares in the company, valued at $1,134,214.65. This represents a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its holdings in Kinsale Capital Group by 0.5% in the fourth quarter. Invesco Ltd. now owns 276,090 shares of the financial services provider’s stock worth $107,984,000 after purchasing an additional 1,366 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Kinsale Capital Group by 8.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,491 shares of the financial services provider’s stock worth $974,000 after buying an additional 201 shares in the last quarter. Cim LLC boosted its holdings in shares of Kinsale Capital Group by 4.5% during the 4th quarter. Cim LLC now owns 3,146 shares of the financial services provider’s stock worth $1,230,000 after buying an additional 136 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Kinsale Capital Group by 238.1% in the 4th quarter. Empowered Funds LLC now owns 8,497 shares of the financial services provider’s stock valued at $3,323,000 after acquiring an additional 5,984 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Kinsale Capital Group during the 4th quarter valued at $4,409,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

About Kinsale Capital Group

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.