Kinsale Capital Group Inc (KNSL) Expected to Announce Quarterly Sales of $49.23 Million

Wall Street brokerages predict that Kinsale Capital Group Inc (NASDAQ:KNSL) will report $49.23 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Kinsale Capital Group’s earnings, with the highest sales estimate coming in at $49.40 million and the lowest estimate coming in at $49.06 million. Kinsale Capital Group reported sales of $40.35 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 22%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, February 26th.

On average, analysts expect that Kinsale Capital Group will report full year sales of $49.23 million for the current financial year, with estimates ranging from $185.09 million to $185.43 million. For the next year, analysts anticipate that the business will post sales of $214.02 million per share, with estimates ranging from $209.37 million to $218.66 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Kinsale Capital Group.

KNSL has been the subject of several research analyst reports. BidaskClub upgraded shares of Kinsale Capital Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Kinsale Capital Group from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Wednesday, January 10th. Finally, William Blair restated a “hold” rating on shares of Kinsale Capital Group in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Kinsale Capital Group currently has an average rating of “Buy” and a consensus price target of $47.33.

Kinsale Capital Group (NASDAQ KNSL) traded up $1.07 during mid-day trading on Friday, reaching $48.57. 49,048 shares of the company traded hands, compared to its average volume of 64,467. Kinsale Capital Group has a 1 year low of $28.67 and a 1 year high of $49.17. The company has a market cap of $978.10, a PE ratio of 40.14 and a beta of -0.13.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.58%. The ex-dividend date is Tuesday, February 27th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.06. Kinsale Capital Group’s payout ratio is 19.83%.

In related news, SVP Ann Marie Marson sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $43.00, for a total value of $322,500.00. Following the completion of the transaction, the senior vice president now owns 105,334 shares in the company, valued at approximately $4,529,362. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.20% of the company’s stock.

Several institutional investors have recently modified their holdings of KNSL. Schwab Charles Investment Management Inc. raised its position in shares of Kinsale Capital Group by 102.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 23,700 shares of the financial services provider’s stock valued at $885,000 after acquiring an additional 12,000 shares during the last quarter. Swiss National Bank raised its position in shares of Kinsale Capital Group by 33.0% during the 2nd quarter. Swiss National Bank now owns 32,262 shares of the financial services provider’s stock valued at $1,204,000 after acquiring an additional 8,000 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Kinsale Capital Group by 60.3% during the 2nd quarter. Alliancebernstein L.P. now owns 10,900 shares of the financial services provider’s stock valued at $407,000 after acquiring an additional 4,100 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Kinsale Capital Group by 159.0% during the 2nd quarter. Teachers Advisors LLC now owns 25,882 shares of the financial services provider’s stock valued at $966,000 after acquiring an additional 15,890 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Kinsale Capital Group by 17.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 73,330 shares of the financial services provider’s stock valued at $2,736,000 after acquiring an additional 11,127 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

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Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.

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Earnings History and Estimates for Kinsale Capital Group (NASDAQ:KNSL)

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