Kinsale Capital Group (NYSE:KNSL) Price Target Cut to $390.00

Kinsale Capital Group (NYSE:KNSL) had its target price cut by Compass Point from $490.00 to $390.00 in a research report report published on Monday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. lifted their target price on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a neutral rating in a research report on Monday, February 26th. BMO Capital Markets downgraded Kinsale Capital Group from an outperform rating to a market perform rating and increased their price objective for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $425.00 target price (down from $555.00) on shares of Kinsale Capital Group in a report on Monday. Finally, Truist Financial decreased their price target on shares of Kinsale Capital Group from $600.00 to $440.00 and set a buy rating for the company in a research note on Monday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $451.43.

Kinsale Capital Group Stock Down 4.4 %

KNSL stock opened at $358.00 on Monday. The stock has a market cap of $8.30 billion, a P/E ratio of 23.79 and a beta of 0.89. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.16. Kinsale Capital Group has a twelve month low of $297.33 and a twelve month high of $548.47. The company’s 50 day moving average is $488.67 and its two-hundred day moving average is $414.99.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The firm had revenue of $372.79 million for the quarter, compared to the consensus estimate of $366.45 million. During the same period last year, the firm posted $2.44 EPS. The company’s revenue was up 41.7% on a year-over-year basis. Research analysts expect that Kinsale Capital Group will post 15.31 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. Shareholders of record on Tuesday, February 27th were paid a $0.15 dividend. 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 0.17%. The ex-dividend date was Monday, February 26th. Kinsale Capital Group’s payout ratio is currently 3.99%.

Insiders Place Their Bets

In related news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the sale, the director now owns 887 shares in the company, valued at $464,867.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the sale, the chief executive officer now directly owns 303,972 shares in the company, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Kinsale Capital Group

Several hedge funds and other institutional investors have recently bought and sold shares of KNSL. CWM LLC grew its holdings in Kinsale Capital Group by 9.6% in the third quarter. CWM LLC now owns 286 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 25 shares during the last quarter. Rise Advisors LLC boosted its position in shares of Kinsale Capital Group by 17.5% in the 1st quarter. Rise Advisors LLC now owns 181 shares of the financial services provider’s stock worth $95,000 after buying an additional 27 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Kinsale Capital Group by 1.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 1,554 shares of the financial services provider’s stock worth $643,000 after buying an additional 29 shares in the last quarter. Pearl River Capital LLC grew its stake in Kinsale Capital Group by 5.2% in the 3rd quarter. Pearl River Capital LLC now owns 604 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 30 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. increased its holdings in Kinsale Capital Group by 1.1% during the 4th quarter. Blackhawk Capital Partners LLC. now owns 2,655 shares of the financial services provider’s stock valued at $889,000 after acquiring an additional 30 shares in the last quarter. 85.36% of the stock is 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.