Kinsale Capital Group (NYSE:KNSL) Announces Quarterly Earnings Results

Kinsale Capital Group (NYSE:KNSL) issued its quarterly 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 return on equity of 25.54% and a net margin of 28.49%. The company had revenue of $454.80 million during the quarter, compared to the consensus estimate of $401.43 million.

Kinsale Capital Group Trading Up 3.8%

Shares of NYSE KNSL traded up $14.14 during trading on Thursday, hitting $390.85. 322,716 shares of the company traded hands, compared to its average volume of 267,636. The firm has a market capitalization of $8.90 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.17 and a beta of 0.88. 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 company has a 50-day moving average price of $359.77 and a 200-day moving average price of $341.81. Kinsale Capital Group has a 1 year low of $287.20 and a 1 year high of $462.82.

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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, August 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KNSL. Morgan Stanley lowered their price objective on Kinsale Capital Group from $390.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Cantor Fitzgerald increased their target price on 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 reduced their target price on Kinsale Capital Group from $377.00 to $348.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. Weiss Ratings raised Kinsale Capital Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Finally, JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $390.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, October 9th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Kinsale Capital Group currently has an average rating of “Reduce” and an average target price 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.