Kinsale Capital Group (NYSE:KNSL) Stock Price Up 5.7% After Better-Than-Expected Earnings

Kinsale Capital Group, Inc. (NYSE:KNSL) shares were up 5.7% on Friday following a stronger than expected earnings report. The company traded as high as $355.15 and last traded at $351.3010. Approximately 97,180 shares traded hands during trading, a decline of 66% from the average daily volume of 282,728 shares. The stock had previously closed at $332.28.

The financial services provider reported $5.54 EPS for the quarter, topping the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.89% and a net margin of 28.49%.The company had revenue of $548.52 million for the quarter, compared to analysts’ expectations of $445.13 million. During the same quarter in the prior year, the business earned $4.78 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis.

Kinsale Capital Group Announces Dividend

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

Kinsale Capital Group News Summary

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 Analysts Forecast Growth

KNSL has been the topic of a number of research reports. Cantor Fitzgerald reduced their target price on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings cut shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. Truist Financial reduced their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Finally, Royal Bank Of Canada decreased their price objective on 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. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $373.80.

Insider Activity

In related news, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the sale, the insider directly owned 3,645 shares in the company, valued at $1,134,214.65. This trade represents a 6.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Kehoe sold 22,576 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the transaction, the chief executive officer owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their position. The SEC filing for this sale provides additional information. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Kinsale Capital Group

Several hedge funds have recently added to or reduced their stakes in KNSL. AQR Capital Management LLC lifted its holdings in Kinsale Capital Group by 76.2% during the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 361 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of 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. Brown Advisory Inc. raised its position in shares of Kinsale Capital Group by 7.9% during the second quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 82 shares during the period. Jump Financial LLC lifted its holdings in shares of Kinsale Capital Group by 136.9% during the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 634 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Kinsale Capital Group by 45.3% during the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock valued at $2,430,000 after purchasing an additional 1,566 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The company has a 50-day moving average of $321.17 and a 200-day moving average of $349.35. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90.

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.