Kinsale Capital Group (NYSE:KNSL) Given Sector Perform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Kinsale Capital Group (NYSE:KNSL) in a research report released on Monday morning, Marketbeat Ratings reports. Royal Bank of Canada currently has a $425.00 target price on the financial services provider’s stock, down from their prior target price of $555.00.

A number of other research firms also recently weighed in on KNSL. Truist Financial upped their price target on Kinsale Capital Group from $450.00 to $600.00 and gave the stock a buy rating in a research note on Tuesday, February 20th. BMO Capital Markets lowered Kinsale Capital Group from an outperform rating to a market perform rating and upped their target price for the stock from $434.00 to $544.00 in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a neutral rating in a research report on Monday, February 26th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $451.43.

Kinsale Capital Group Trading Down 4.4 %

Shares of KNSL stock opened at $358.00 on Monday. Kinsale Capital Group has a fifty-two week low of $297.33 and a fifty-two week high of $548.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a 50 day simple moving average of $488.67 and a two-hundred day simple moving average of $414.99. The company has a market cap of $8.30 billion, a P/E ratio of 23.79 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.33 by $0.17. The company had revenue of $372.79 million during the quarter, compared to the consensus estimate of $366.45 million. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The company’s quarterly revenue was up 41.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 EPS. Research analysts forecast that Kinsale Capital Group will post 15.31 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, February 26th. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.17%. Kinsale Capital Group’s dividend payout ratio is 3.99%.

Insiders Place Their Bets

In related news, CEO Michael P. Kehoe sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the sale, the chief executive officer now directly owns 303,972 shares in the company, valued at approximately $159,199,255.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the sale, the director now owns 887 shares of the company’s stock, valued at approximately $464,867.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Kinsale Capital Group by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 2,090,492 shares of the financial services provider’s stock valued at $700,127,000 after purchasing an additional 30,729 shares during the last quarter. Invesco Ltd. boosted its position in Kinsale Capital Group by 15.4% during the 3rd quarter. Invesco Ltd. now owns 694,070 shares of the financial services provider’s stock valued at $287,435,000 after buying an additional 92,496 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Kinsale Capital Group in the 1st quarter worth $196,358,000. DAVENPORT & Co LLC increased its position in shares of Kinsale Capital Group by 154.5% in the fourth quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock valued at $109,362,000 after acquiring an additional 198,129 shares during the period. Finally, Riverbridge Partners LLC raised its stake in shares of Kinsale Capital Group by 25.4% during the first quarter. Riverbridge Partners LLC now owns 311,664 shares of the financial services provider’s stock valued at $163,543,000 after acquiring an additional 63,141 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.