Kinsale Capital Group, Inc. (NYSE:KNSL) Short Interest Update

Kinsale Capital Group, Inc. (NYSE:KNSL) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 2,396,049 shares, an increase of 38.7% from the February 12th total of 1,727,259 shares. Approximately 11.0% of the company’s stock are short sold. Based on an average daily volume of 308,327 shares, the short-interest ratio is currently 7.8 days. Based on an average daily volume of 308,327 shares, the short-interest ratio is currently 7.8 days. Approximately 11.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

KNSL has been the subject of a number of analyst reports. Wall Street Zen cut shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. JPMorgan Chase & Co. cut their price target on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Cantor Fitzgerald lowered their price objective on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada initiated coverage on shares of Kinsale Capital Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $441.91.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $362.76 on Monday. The business’s 50 day moving average is $389.19 and its 200-day moving average is $405.56. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $8.40 billion, a PE ratio of 16.74, a PEG ratio of 1.50 and a beta of 1.01. Kinsale Capital Group has a 1-year low of $341.06 and a 1-year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.30 by $0.51. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. The business had revenue of $483.27 million during the quarter, compared to analysts’ expectations of $467.66 million. During the same quarter last year, the company posted $4.62 EPS. Sell-side analysts predict that Kinsale Capital Group will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were given a dividend of $0.25 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is currently 4.61%.

Kinsale Capital Group declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Kinsale Capital Group

Several hedge funds have recently modified their holdings of the stock. Epoch Investment Partners Inc. lifted its holdings in Kinsale Capital Group by 1.1% in the second quarter. Epoch Investment Partners Inc. now owns 2,174 shares of the financial services provider’s stock valued at $1,052,000 after buying an additional 23 shares during the period. Vident Advisory LLC grew its holdings in Kinsale Capital Group by 2.9% during the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock worth $399,000 after acquiring an additional 23 shares during the period. Portside Wealth Group LLC raised its position in shares of Kinsale Capital Group by 1.4% during the 2nd quarter. Portside Wealth Group LLC now owns 1,860 shares of the financial services provider’s stock valued at $900,000 after acquiring an additional 25 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its stake in shares of Kinsale Capital Group by 3.3% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 867 shares of the financial services provider’s stock valued at $339,000 after purchasing an additional 28 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Kinsale Capital Group by 20.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 28 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.