Kinsale Capital Group, Inc. (NYSE:KNSL) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL) have earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $438.43.

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Compass Point dropped their price target on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. BMO Capital Markets decreased their price objective on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. Truist Financial dropped their target price on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a report on Monday, April 29th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $425.00 price target (down from $555.00) on shares of Kinsale Capital Group in a research note on Monday, April 29th.

Kinsale Capital Group Trading Up 0.6 %

Shares of NYSE:KNSL opened at $396.17 on Wednesday. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 26.32 and a beta of 0.98. The business’s 50 day moving average price is $473.84 and its 200-day moving average price is $412.58. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.12 and a quick ratio of 0.12. Kinsale Capital Group has a 1 year low of $297.33 and a 1 year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.17. The business had revenue of $372.79 million for 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 revenue was up 41.7% compared to the same quarter last year. During the same period last year, the firm posted $2.44 earnings per share. On average, equities research analysts forecast that Kinsale Capital Group will post 15.03 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were given a dividend of $0.15 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.15%. The ex-dividend date was Monday, February 26th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

Insiders Place Their Bets

In other news, COO Brian D. Haney sold 3,778 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total value of $1,389,321.72. Following the completion of the sale, the chief operating officer now owns 95,850 shares of the company’s stock, valued at approximately $35,247,879. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the sale, the director now directly owns 887 shares of the company’s stock, valued at approximately $464,867.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian D. Haney sold 3,778 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the completion of the transaction, the chief operating officer now directly owns 95,850 shares in the company, valued at approximately $35,247,879. The disclosure for this sale can be found here. Insiders have sold 9,778 shares of company stock valued at $4,532,422 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds have recently made changes to their positions in KNSL. Vaughan Nelson Investment Management L.P. acquired a new position in Kinsale Capital Group during the first quarter worth $196,358,000. Royal London Asset Management Ltd. raised its holdings in shares of Kinsale Capital Group by 4,798.0% in the 3rd quarter. Royal London Asset Management Ltd. now owns 245,684 shares of the financial services provider’s stock valued at $101,692,000 after buying an additional 240,668 shares during the period. Norges Bank acquired a new position in Kinsale Capital Group during the 4th quarter worth about $78,562,000. DAVENPORT & Co LLC boosted its holdings in Kinsale Capital Group by 154.5% during the 4th 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, International Assets Investment Management LLC grew its position in Kinsale Capital Group by 33,266.0% in the 4th quarter. International Assets Investment Management LLC now owns 178,842 shares of the financial services provider’s stock valued at $59,896,000 after acquiring an additional 178,306 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

About Kinsale Capital Group

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.