Kinsale Capital Group, Inc. Expected to Earn Q3 2017 Earnings of $0.07 Per Share (KNSL)
Kinsale Capital Group, Inc. (NASDAQ:KNSL) – Analysts at SunTrust Banks lowered their Q3 2017 earnings per share (EPS) estimates for shares of Kinsale Capital Group in a note issued to investors on Monday. SunTrust Banks analyst M. Hughes now expects that the financial services provider will post earnings of $0.07 per share for the quarter, down from their prior estimate of $0.37. SunTrust Banks has a “Buy” rating and a $50.00 price objective on the stock. SunTrust Banks also issued estimates for Kinsale Capital Group’s FY2017 earnings at $1.15 EPS.
KNSL has been the subject of several other reports. Royal Bank Of Canada reiterated a “buy” rating and set a $38.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, July 18th. William Blair downgraded Kinsale Capital Group from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Zacks Investment Research upgraded Kinsale Capital Group from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Tuesday, August 8th.
Kinsale Capital Group (NASDAQ:KNSL) opened at 40.83 on Wednesday. Kinsale Capital Group has a 52 week low of $21.01 and a 52 week high of $47.78. The stock has a market capitalization of $856.12 million, a P/E ratio of 64.30 and a beta of 0.09. The stock’s 50 day moving average price is $42.29 and its 200-day moving average price is $42.29.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 29th. This represents a $0.24 annualized dividend and a dividend yield of 0.59%. Kinsale Capital Group’s dividend payout ratio is presently 19.20%.
In other news, Director Frederick L. Jr. Russell sold 124,812 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $36.58, for a total transaction of $4,565,622.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 11.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KNSL. American International Group Inc. acquired a new stake in Kinsale Capital Group in the first quarter worth approximately $129,000. Russell Investments Group Ltd. lifted its position in Kinsale Capital Group by 17.0% in the second quarter. Russell Investments Group Ltd. now owns 3,540 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 515 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Kinsale Capital Group in the first quarter worth approximately $204,000. Hancock Holding Co. acquired a new stake in Kinsale Capital Group in the second quarter worth approximately $216,000. Finally, Alliancebernstein L.P. acquired a new stake in Kinsale Capital Group in the first quarter worth approximately $218,000. Hedge funds and other institutional investors own 79.79% of the company’s stock.
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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