Why is Kinsale Capital Group Inc (KNSL) Stock down?

We've noticed a 17.31% decline in Kinsale Capital Group Inc (KNSL) stock during the 2024-04-26 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
27 Oct, 2023:

Kinsale Capital Group Stock (KNSL) dropped by 19.56% from $426.22 to $342.87 in the trading on Friday October 27, 2023. The reason why KNSL stock down today is due to the profit-taking after strong Q3 FY23 results. Kinsale's latest quarter, though solid, included at least some hint that growth could be slowing. The numbers weren't quite as good as previous quarters

  • Operating earnings of $3.31 per share in the most recent quarter, topping the $2.84-per-share consensus and well above the $1.43 per share the company reported a year ago.
  • Net income increased by 130.8% year over year, and gross written premiums increased by 33% to $377.8 million.
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