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

Kinsale Capital Group (NYSE:KNSL) issued its earnings results on Thursday. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.65 by $0.46, FiscalAI reports. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.The firm had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million.

Kinsale Capital Group Stock Performance

Shares of KNSL traded down $0.98 during trading hours on Thursday, reaching $348.53. 332,898 shares of the company’s stock traded hands, compared to its average volume of 246,799. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.18 and a beta of 1.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.08 and a quick ratio of 0.08. Kinsale Capital Group has a twelve month low of $321.97 and a twelve month high of $512.76. The business’s fifty day simple moving average is $359.42 and its two-hundred day simple moving average is $387.92.

Kinsale Capital Group Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KNSL. Truist Financial dropped their target price on Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $350.00 target price (down from $450.00) on shares of Kinsale Capital Group in a research report on Monday, April 6th. BMO Capital Markets lowered Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 target price on the stock. in a research report on Wednesday, February 25th. Jefferies Financial Group lowered Kinsale Capital Group from a “hold” rating to an “underperform” rating and lowered their price target for the company from $392.00 to $312.00 in a report on Thursday, March 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a report on Friday, March 27th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Kinsale Capital Group has a consensus rating of “Hold” and a consensus price target of $405.45.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KNSL. DF Dent & Co. Inc. boosted its stake in Kinsale Capital Group by 19.2% during the fourth quarter. DF Dent & Co. Inc. now owns 315,756 shares of the financial services provider’s stock valued at $123,498,000 after buying an additional 50,846 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Kinsale Capital Group by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 285,654 shares of the financial services provider’s stock valued at $111,732,000 after buying an additional 11,930 shares in the last quarter. Invesco Ltd. boosted its stake in Kinsale Capital Group by 0.5% during the fourth quarter. Invesco Ltd. now owns 276,090 shares of the financial services provider’s stock valued at $107,984,000 after buying an additional 1,366 shares in the last quarter. Turtle Creek Asset Management Inc. boosted its stake in Kinsale Capital Group by 12.8% during the third quarter. Turtle Creek Asset Management Inc. now owns 225,920 shares of the financial services provider’s stock valued at $96,075,000 after buying an additional 25,666 shares in the last quarter. Finally, Spyglass Capital Management LLC boosted its stake in Kinsale Capital Group by 37.5% during the fourth quarter. Spyglass Capital Management LLC now owns 197,186 shares of the financial services provider’s stock valued at $77,123,000 after buying an additional 53,801 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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.