Kinsale Capital Group Inc (NASDAQ:KNSL) Expected to Announce Quarterly Sales of $76.24 Million

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Brokerages expect Kinsale Capital Group Inc (NASDAQ:KNSL) to announce $76.24 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kinsale Capital Group’s earnings. The lowest sales estimate is $76.13 million and the highest is $76.34 million. Kinsale Capital Group posted sales of $60.14 million in the same quarter last year, which would indicate a positive year over year growth rate of 26.8%. The business is expected to report its next earnings results after the market closes on Thursday, October 31st.

According to Zacks, analysts expect that Kinsale Capital Group will report full year sales of $301.29 million for the current fiscal year, with estimates ranging from $300.75 million to $301.83 million. For the next fiscal year, analysts forecast that the business will post sales of $352.04 million, with estimates ranging from $345.04 million to $359.03 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Kinsale Capital Group.

Kinsale Capital Group (NASDAQ:KNSL) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Kinsale Capital Group had a net margin of 18.67% and a return on equity of 16.78%. The business had revenue of $72.57 million during the quarter, compared to the consensus estimate of $69.49 million.

A number of analysts recently issued reports on KNSL shares. Zacks Investment Research downgraded shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. UBS Group raised their price objective on shares of Kinsale Capital Group to $112.00 and gave the stock a “positive” rating in a report on Thursday, September 26th. SunTrust Banks raised their price objective on shares of Kinsale Capital Group from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 1st. They noted that the move was a valuation call. JMP Securities started coverage on shares of Kinsale Capital Group in a report on Friday, September 6th. They set a “market perform” rating for the company. Finally, ValuEngine downgraded shares of Kinsale Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $100.00.

In other news, Director Frederick L. Jr. Russell sold 3,000 shares of Kinsale Capital Group stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $102.28, for a total value of $306,840.00. Following the completion of the transaction, the director now owns 1,170 shares in the company, valued at $119,667.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian D. Haney sold 2,250 shares of Kinsale Capital Group stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $94.65, for a total transaction of $212,962.50. Following the completion of the transaction, the chief operating officer now owns 177,249 shares of the company’s stock, valued at approximately $16,776,617.85. The disclosure for this sale can be found here. Insiders sold 23,500 shares of company stock valued at $2,247,063 in the last quarter. Corporate insiders own 8.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of KNSL. Invesco Ltd. increased its stake in shares of Kinsale Capital Group by 1,039.4% in the second quarter. Invesco Ltd. now owns 361,605 shares of the financial services provider’s stock worth $33,080,000 after purchasing an additional 329,869 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Kinsale Capital Group by 297.5% in the second quarter. Nuveen Asset Management LLC now owns 158,670 shares of the financial services provider’s stock valued at $14,515,000 after acquiring an additional 118,755 shares during the period. Victory Capital Management Inc. boosted its position in shares of Kinsale Capital Group by 48.3% in the second quarter. Victory Capital Management Inc. now owns 309,706 shares of the financial services provider’s stock valued at $28,332,000 after acquiring an additional 100,900 shares during the period. BlackRock Inc. boosted its position in shares of Kinsale Capital Group by 5.0% in the second quarter. BlackRock Inc. now owns 1,796,938 shares of the financial services provider’s stock valued at $164,384,000 after acquiring an additional 85,757 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in shares of Kinsale Capital Group in the second quarter valued at approximately $6,312,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

NASDAQ KNSL traded up $0.11 during trading hours on Friday, reaching $104.91. 55,867 shares of the company were exchanged, compared to its average volume of 154,489. Kinsale Capital Group has a 1 year low of $50.34 and a 1 year high of $105.99. The business’s 50 day simple moving average is $100.37 and its 200-day simple moving average is $88.10. The stock has a market capitalization of $2.23 billion, a P/E ratio of 58.61 and a beta of 0.50.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess and general casualty, life sciences, allied health, health care, commercial property, environmental, public entity, inland marine, and commercial insurance, as well as product, professional, and management liability insurance; and homeowners insurance.

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