Why Kinsale Capital Stock Plunged Today
Kinsale Capital (KNSL) The Motley Fool·2024-10-26 02:10
Kinsale's third-quarter earnings look excellent, but management is trying to rein in expectations.After reporting third-quarter earnings, shares of excess and surplus (E&S) insurer Kinsale Capital (KNSL -7.80%) were down 8% as of 1:45 p.m. ET Friday, according to data provided by S&P Global Market Intelligence.Despite delivering earnings-per-share growth of 50% during Q3, Kinsale's gross written premium growth slowed to "only" 19% as the company faced increasing competition. Priced at nearly 30 times earnin ...