Kinsale Capital Group (NYSE:KNSL) Stock Price Down 6.1% – Should You Sell?

Kinsale Capital Group, Inc. (NYSE:KNSL)’s share price was down 6.1% during mid-day trading on Monday . The stock traded as low as $457.14 and last traded at $457.14. Approximately 29,675 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 176,214 shares. The stock had previously closed at $486.93.

Analyst Ratings Changes

KNSL has been the topic of a number of research reports. Truist Financial raised their target price on shares of Kinsale Capital Group from $485.00 to $530.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Wolfe Research cut Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their target price on Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Royal Bank of Canada boosted their price target on Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, Oppenheimer began coverage on Kinsale Capital Group in a report on Friday, July 12th. They issued a “market perform” rating for the company. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group presently has an average rating of “Hold” and an average target price of $441.83.

Kinsale Capital Group Stock Performance

The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 2.02 and a beta of 1.08. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.15. The stock has a 50-day simple moving average of $467.57 and a 200-day simple moving average of $430.05.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.23. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The business had revenue of $384.55 million during the quarter, compared to analyst estimates of $410.20 million. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The business’s revenue was up 30.0% compared to the same quarter last year. On average, analysts anticipate that Kinsale Capital Group, Inc. will post 15.31 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.13%. Kinsale Capital Group’s payout ratio is 3.99%.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds have recently bought and sold shares of the company. Cim LLC bought a new position in Kinsale Capital Group during the 4th quarter worth approximately $1,934,000. Janney Montgomery Scott LLC boosted its holdings in Kinsale Capital Group by 113.0% in the first quarter. Janney Montgomery Scott LLC now owns 4,094 shares of the financial services provider’s stock worth $2,148,000 after purchasing an additional 2,172 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Kinsale Capital Group by 249.2% in the second quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock worth $2,061,000 after purchasing an additional 3,818 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Kinsale Capital Group during the first quarter valued at $196,358,000. Finally, Congress Asset Management Co. MA raised its holdings in shares of Kinsale Capital Group by 50.9% during the first quarter. Congress Asset Management Co. MA now owns 17,248 shares of the financial services provider’s stock worth $9,051,000 after purchasing an additional 5,815 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.