Financial stocks were falling in afternoon trading, with the NYSE Financial Index dropping 1.6% while the SPDR Financial Select Sector ETF was off by 1.2%.
The Philadelphia Housing Index also was sinking 2.1%.
In company news, Kinsale Capital Group (KNSL) rallied Friday, recently rising 14% to a best-ever $189.75 a share, after the casualty and property insurance company reported Q2 net operating earnings of $0.84 per share, up from $0.57 per share during the same quarter last year and beating the Capital IQ consensus expecting a $0.59 per share normalized profit. Net written premiums grew 42.2% over year-ago levels to $117.6 million, also topping the $102.6 million Street view.
Goosehead Insurance (GSHD) rose 24% after late Thursday reporting Q2 financial results exceeding Wall Street estimates and also declaring a special cash dividend of around $1.15 per share to be paid August 24. Excluding one-time items, it earned $0.25 per share on $29.9 million in revenue, up from $0.07 per share and $19.4 million during the year-ago period, respectively, and also topping the Capital IQ consensus expecting a $0.10 per share adjusted profit on $24.7 million in revenue.
Hilltop Holdings (HTH) was falling over 2% despite the bank holding company reported Q2 net income of $1.08 per share, improving on a $0.64 per share profit during the same quarter last year and beating the Capital IQ analyst consensus expecting $0.49 per share. Total revenue grew 49% over year-ago levels to $572.7 million, also exceeding the $395.9 million analyst mean.
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