Kinsale Capital Group (NYSE:KNSL) Posts Earnings Results, Beats Estimates By $0.56 EPS
by Danessa Lincoln · The Markets DailyKinsale Capital Group (NYSE:KNSL – Get Free Report) announced its earnings results on Thursday. The financial services provider reported $5.81 EPS for the quarter, topping the consensus estimate of $5.25 by $0.56, FiscalAI reports. The firm had revenue of $483.27 million for the quarter, compared to analysts’ expectations of $467.66 million. Kinsale Capital Group had a return on equity of 25.66% and a net margin of 26.30%.
Kinsale Capital Group Stock Down 0.8%
Shares of NYSE KNSL traded down $3.39 during mid-day trading on Thursday, reaching $402.02. The company had a trading volume of 367,691 shares, compared to its average volume of 212,511. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.40 and a beta of 0.99. The stock has a fifty day moving average of $393.52 and a two-hundred day moving average of $417.07. Kinsale Capital Group has a 12-month low of $349.00 and a 12-month high of $512.76.
Kinsale Capital Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be issued a $0.25 dividend. The ex-dividend date is Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s dividend payout ratio is currently 4.91%.
Institutional Investors Weigh In On Kinsale Capital Group
Institutional investors have recently modified their holdings of the stock. Vident Advisory LLC grew its position in Kinsale Capital Group by 2.9% during the second quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock worth $399,000 after buying an additional 23 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Kinsale Capital Group by 20.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 28 shares in the last quarter. Synergy Financial Group LTD raised its stake in Kinsale Capital Group by 1.6% in the third quarter. Synergy Financial Group LTD now owns 2,677 shares of the financial services provider’s stock valued at $1,139,000 after purchasing an additional 42 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Kinsale Capital Group by 72.9% during the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 43 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in Kinsale Capital Group by 0.7% during the third quarter. Public Employees Retirement System of Ohio now owns 6,954 shares of the financial services provider’s stock worth $2,957,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.
Analyst Upgrades and Downgrades
KNSL has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. Wells Fargo & Company assumed coverage on Kinsale Capital Group in a report on Thursday, January 15th. They set an “overweight” rating and a $490.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. TD Cowen reduced their price objective on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $476.60.
View Our Latest Stock Report on Kinsale Capital Group
Kinsale Capital Group announced that its board has initiated a share repurchase program on Thursday, December 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Kinsale Capital Group Company Profile
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.
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