BMO Capital Markets Lowers Kinsale Capital Group (NYSE:KNSL) Price Target to $453.00

Kinsale Capital Group (NYSE:KNSL) had its price objective decreased by BMO Capital Markets from $544.00 to $453.00 in a research report report published on Tuesday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Compass Point decreased their price target on shares of Kinsale Capital Group from $490.00 to $390.00 and set a neutral rating for the company in a research report on Monday, April 29th. Truist Financial lowered their target price on shares of Kinsale Capital Group from $600.00 to $440.00 and set a buy rating on the stock in a report on Monday, April 29th. Royal Bank of Canada reissued a sector perform rating and issued a $425.00 price target (down from $555.00) on shares of Kinsale Capital Group in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. increased their price objective on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a neutral rating in a report on Monday, February 26th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $438.43.

Kinsale Capital Group Trading Up 2.5 %

KNSL stock opened at $382.40 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $8.87 billion, a PE ratio of 25.41 and a beta of 0.98. The company’s 50-day simple moving average is $478.52 and its 200 day simple moving average is $413.48. Kinsale Capital Group has a 52 week low of $297.33 and a 52 week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. The firm had revenue of $372.79 million for the quarter, compared to the consensus estimate of $366.45 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The company’s revenue was up 41.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 EPS. As a group, sell-side analysts anticipate that Kinsale Capital Group will post 15.03 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Monday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. Kinsale Capital Group’s payout ratio is 3.99%.

Insider Buying and Selling

In other Kinsale Capital Group news, COO Brian D. Haney sold 3,778 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the completion of the transaction, the chief operating officer now owns 95,850 shares of the company’s stock, valued at approximately $35,247,879. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Brian D. Haney sold 3,778 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the sale, the chief operating officer now owns 95,850 shares of the company’s stock, valued at approximately $35,247,879. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the sale, the director now owns 887 shares in the company, valued at approximately $464,867.83. The disclosure for this sale can be found here. Insiders sold 9,778 shares of company stock valued at $4,532,422 over the last quarter. 5.60% of the stock is owned by company insiders.

Institutional Trading of Kinsale Capital Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DAVENPORT & Co LLC grew its position in shares of Kinsale Capital Group by 0.4% during the 1st quarter. DAVENPORT & Co LLC now owns 327,664 shares of the financial services provider’s stock worth $173,095,000 after buying an additional 1,286 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Kinsale Capital Group by 8.2% in the 1st quarter. GSA Capital Partners LLP now owns 907 shares of the financial services provider’s stock worth $476,000 after purchasing an additional 69 shares in the last quarter. RiverPark Advisors LLC raised its stake in Kinsale Capital Group by 309.8% during the first quarter. RiverPark Advisors LLC now owns 1,213 shares of the financial services provider’s stock worth $637,000 after purchasing an additional 917 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Kinsale Capital Group in the first quarter valued at $1,318,000. Finally, Salomon & Ludwin LLC lifted its position in Kinsale Capital Group by 153.8% in the first quarter. Salomon & Ludwin LLC now owns 825 shares of the financial services provider’s stock valued at $433,000 after buying an additional 500 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.