Kinsale Capital Group, Inc. (NYSE:KNSL) Short Interest Update

Kinsale Capital Group, Inc. (NYSE:KNSL) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 1,300,000 shares, a decline of 6.5% from the August 15th total of 1,390,000 shares. Based on an average daily volume of 150,300 shares, the days-to-cover ratio is currently 8.6 days. Approximately 5.9% of the company’s stock are short sold.

Institutional Trading of Kinsale Capital Group

A number of large investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. grew its position in shares of Kinsale Capital Group by 9.9% during the 2nd quarter. Benjamin Edwards Inc. now owns 267 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 24 shares during the period. Rise Advisors LLC lifted its stake in Kinsale Capital Group by 17.5% in the first quarter. Rise Advisors LLC now owns 181 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 27 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Kinsale Capital Group by 9.2% during the second quarter. Parkside Financial Bank & Trust now owns 331 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 28 shares during the period. Personal CFO Solutions LLC grew its holdings in Kinsale Capital Group by 3.7% during the fourth quarter. Personal CFO Solutions LLC now owns 984 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 35 shares during the period. Finally, Hancock Whitney Corp increased its position in Kinsale Capital Group by 3.1% in the first quarter. Hancock Whitney Corp now owns 1,245 shares of the financial services provider’s stock worth $653,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

KNSL stock opened at $453.60 on Thursday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.15. The firm has a market cap of $10.56 billion, a PE ratio of 30.14, a P/E/G ratio of 1.98 and a beta of 1.08. The business has a 50 day moving average of $449.44 and a 200-day moving average of $435.89. Kinsale Capital Group has a 12-month low of $325.01 and a 12-month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.75 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.23. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. The business had revenue of $384.55 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. As a group, sell-side analysts expect that Kinsale Capital Group 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. Investors of record on Thursday, August 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.60 annualized dividend and a yield of 0.13%. Kinsale Capital Group’s payout ratio is currently 3.99%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Oppenheimer assumed coverage on shares of Kinsale Capital Group in a report on Friday, July 12th. They set a “market perform” rating for the company. JPMorgan Chase & Co. lifted their price target 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 increased their price objective on Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Truist Financial raised their target price on Kinsale Capital Group from $440.00 to $485.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Wolfe Research downgraded Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a report on Monday. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $443.38.

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.