Zacks: Brokerages Expect Kinsale Capital Group, Inc. (KNSL) Will Announce Quarterly Sales of $45.88 Million
Wall Street brokerages expect that Kinsale Capital Group, Inc. (NASDAQ:KNSL) will report sales of $45.88 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kinsale Capital Group’s earnings, with the lowest sales estimate coming in at $44.67 million and the highest estimate coming in at $47.09 million. Kinsale Capital Group reported sales of $33.68 million in the same quarter last year, which indicates a positive year over year growth rate of 36.2%. The firm is expected to announce its next quarterly earnings results on Wednesday, September 6th.
On average, analysts expect that Kinsale Capital Group will report full year sales of $45.88 million for the current year, with estimates ranging from $184.22 million to $194.80 million. For the next fiscal year, analysts anticipate that the firm will post sales of $219.24 million per share, with estimates ranging from $217.55 million to $220.92 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Kinsale Capital Group.
Several research firms have issued reports on KNSL. SunTrust Banks, Inc. reissued a “buy” rating on shares of Kinsale Capital Group in a research note on Monday, May 8th. Zacks Investment Research downgraded Kinsale Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $26.25.
In related news, major shareholder Moelis Capital Partners Opport sold 4,307,774 shares of Kinsale Capital Group stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $31.60, for a total value of $136,125,658.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Frederick L. Jr. Russell sold 250,000 shares of Kinsale Capital Group stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $31.60, for a total value of $7,900,000.00. The disclosure for this sale can be found here. Company insiders own 11.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in KNSL. American International Group Inc. bought a new stake in Kinsale Capital Group during the first quarter worth about $129,000. Dynamic Technology Lab Private Ltd bought a new stake in Kinsale Capital Group during the first quarter worth about $204,000. Alliancebernstein L.P. bought a new stake in Kinsale Capital Group during the first quarter worth about $218,000. Citadel Advisors LLC bought a new stake in Kinsale Capital Group during the first quarter worth about $237,000. Finally, TFS Capital LLC bought a new stake in Kinsale Capital Group during the first quarter worth about $245,000. 55.66% of the stock is currently owned by institutional investors and hedge funds.
Kinsale Capital Group (NASDAQ KNSL) opened at 36.97 on Friday. Kinsale Capital Group has a 12 month low of $18.00 and a 12 month high of $38.32. The firm has a market capitalization of $775.19 million and a price-to-earnings ratio of 65.55. The firm has a 50-day moving average price of $35.96 and a 200 day moving average price of $32.98.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Monday, June 5th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, June 1st. Kinsale Capital Group’s dividend payout ratio is 18.90%.
About Kinsale Capital Group
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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