Truist Financial Lowers Kinsale Capital Group (NYSE:KNSL) Price Target to $500.00

Kinsale Capital Group (NYSE:KNSL) had its price target reduced by Truist Financial from $530.00 to $500.00 in a report published on Monday, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on KNSL. Jefferies Financial Group upped their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada lifted their price target on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Oppenheimer started coverage on shares of Kinsale Capital Group in a research report on Friday, July 12th. They set a “market perform” rating for the company. Finally, Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective on the stock in a report on Monday. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $455.88.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $428.78 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 2.03 and a beta of 1.08. The firm’s 50 day simple moving average is $464.02 and its 200-day simple moving average is $427.43. 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 released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The company had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. During the same quarter in the previous year, the company earned $3.31 earnings per share. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. Analysts expect that Kinsale Capital Group will post 15.05 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio is currently 3.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KNSL. Headlands Technologies LLC acquired a new stake in shares of Kinsale Capital Group in the first quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new stake in Kinsale Capital Group in the 3rd quarter valued at $26,000. UMB Bank n.a. increased its stake in shares of Kinsale Capital Group by 408.3% in the 3rd quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 49 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Kinsale Capital Group by 113.6% during the 2nd quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 50 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Kinsale Capital Group by 68.9% during the 3rd quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 42 shares during the last quarter. 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.