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

Kinsale Capital Group, Inc. (NYSE:KNSL) has received a consensus recommendation of “Hold” from the ten ratings firms that are covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $471.11.

Several research analysts recently issued reports on KNSL shares. Truist Financial reduced their price target on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Morgan Stanley initiated coverage on shares of Kinsale Capital Group in a research note on Thursday, December 5th. They set an “overweight” rating and a $593.00 price target on the stock. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a research report on Monday, October 28th. BMO Capital Markets increased their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. cut their price target on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $416.24 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The business’s fifty day moving average price is $474.57 and its two-hundred day moving average price is $455.63. Kinsale Capital Group has a fifty-two week low of $355.12 and a fifty-two week high of $548.47. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 2.16 and a beta of 1.16.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The business had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. During the same period in the prior year, the company earned $3.31 EPS. Kinsale Capital Group’s revenue for the quarter was up 33.0% on a year-over-year basis. As a group, analysts predict that Kinsale Capital Group will post 15.61 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.14%. The ex-dividend date was Friday, November 29th. Kinsale Capital Group’s payout ratio is 3.42%.

Insider Buying and Selling at Kinsale Capital Group

In related news, Director James Joseph Ritchie sold 2,295 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the sale, the director now directly owns 7,348 shares in the company, valued at $3,672,456.92. This trade represents a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the transaction, the director now directly owns 447 shares of the company’s stock, valued at approximately $223,191.57. The trade was a 90.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,235 shares of company stock valued at $3,618,954. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

Several hedge funds and other institutional investors have recently modified their holdings of KNSL. Westfield Capital Management Co. LP raised its position in Kinsale Capital Group by 65.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock valued at $69,471,000 after buying an additional 58,971 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Kinsale Capital Group by 75.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock worth $62,375,000 after acquiring an additional 57,460 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Kinsale Capital Group by 76,986.9% in the third quarter. International Assets Investment Management LLC now owns 47,023 shares of the financial services provider’s stock valued at $21,892,000 after purchasing an additional 46,962 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Kinsale Capital Group in the third quarter worth $18,599,000. Finally, Geode Capital Management LLC boosted its holdings in Kinsale Capital Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock worth $246,810,000 after purchasing an additional 29,686 shares during the last quarter. Institutional investors and hedge funds 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.