Kinsale Capital Group (NYSE:KNSL) Given New $440.00 Price Target at Truist Financial

Kinsale Capital Group (NYSE:KNSL) had its price target trimmed by Truist Financial from $600.00 to $440.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

KNSL has been the topic of several other reports. JPMorgan Chase & Co. boosted their price target on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a neutral rating in a report on Monday, February 26th. BMO Capital Markets cut shares of Kinsale Capital Group from an outperform rating to a market perform rating and boosted their price target for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. Finally, Royal Bank of Canada restated a sector perform rating and set a $425.00 price target (down from $555.00) on shares of Kinsale Capital Group in a report on Monday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $438.43.

Kinsale Capital Group Price Performance

NYSE KNSL opened at $378.61 on Monday. The stock has a market capitalization of $8.78 billion, a P/E ratio of 25.16 and a beta of 0.89. Kinsale Capital Group has a 1 year low of $297.33 and a 1 year high of $548.47. The business’s fifty day moving average is $483.69 and its two-hundred day moving average is $414.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $372.79 million for the quarter, compared to the consensus estimate of $366.45 million. During the same period in the previous year, the business earned $2.44 EPS. The company’s revenue was up 41.7% on a year-over-year basis. On average, research analysts forecast that Kinsale Capital Group will post 15.27 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. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.15 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

Insider Transactions at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares of the company’s stock, valued at $159,199,255.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 887 shares of the company’s stock, valued at $464,867.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the transaction, the chief executive officer now directly owns 303,972 shares in the company, valued at $159,199,255.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,778 shares of company stock valued at $4,532,422. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds and other institutional investors have recently bought and sold shares of KNSL. Janney Montgomery Scott LLC raised 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. BNP Paribas Financial Markets raised its holdings in shares of Kinsale Capital Group by 763.7% during the first quarter. BNP Paribas Financial Markets now owns 14,338 shares of the financial services provider’s stock worth $7,524,000 after acquiring an additional 12,678 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Kinsale Capital Group during the first quarter worth $5,268,000. Sequoia Financial Advisors LLC acquired a new stake in Kinsale Capital Group in the 1st quarter valued at $483,000. Finally, Diversify Advisory Services LLC acquired a new stake in Kinsale Capital Group in the 1st quarter valued at $329,000. 85.36% of the stock is owned by institutional investors.

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.