Why Kinsale Capital Stock Popped, Then Dropped Today
Shares of specialty insurer Kinsale Capital Group (NYSE: KNSL) were flat as of 1 p.m. ET on Friday, according to data provided by S&P Global Market Intelligence.
Kinsale, the only publicly traded insurer focused exclusively on the excess and surplus market (coverage for hard-to-place small and mid-size business risks), reported second-quarter earnings that exceeded analysts' expectations, prompting a 7% increase in its share price.
Despite these impressive results, the company's price has dipped and is now flat, with the market worried about increasing competition in the commercial property industry.
Source Fool.com
