Kinsale Capital Group, Inc. (NYSE:KNSL) Given Average Rating of “Reduce” by Analysts

Kinsale Capital Group, Inc. (NYSE:KNSL) has been assigned a consensus recommendation of “Reduce” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $375.80.

A number of equities analysts recently commented on KNSL shares. Wells Fargo & Company lifted their price target on shares of Kinsale Capital Group from $357.00 to $366.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. TD Cowen reissued a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Cantor Fitzgerald dropped their target price on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Finally, Jefferies Financial Group cut Kinsale Capital Group from a “hold” rating to an “underperform” rating and cut their target price for the company from $392.00 to $312.00 in a research note on Thursday, March 19th.

Insiders Place Their Bets

In other Kinsale Capital Group news, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the sale, the insider owned 3,645 shares in the company, valued at $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the sale, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

Large investors have recently added to or reduced their stakes in the stock. Bayban purchased a new position in shares of Kinsale Capital Group during the fourth quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $25,000. eCIO Inc. purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $29,000. International Assets Investment Management LLC bought a new position in Kinsale Capital Group in the fourth quarter worth approximately $29,000. Finally, Johnson Financial Group Inc. grew its stake in Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 54 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $336.13 on Friday. The firm has a market capitalization of $7.75 billion, a PE ratio of 14.79, a PEG ratio of 1.03 and a beta of 0.90. The stock’s fifty day moving average is $316.85 and its 200 day moving average is $351.28. Kinsale Capital Group has a fifty-two week low of $287.20 and a fifty-two week high of $512.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The company had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. During the same period in the previous year, the firm earned $3.71 earnings per share. Kinsale Capital Group’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts anticipate that Kinsale Capital Group will post 20.71 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s payout ratio is presently 4.40%.

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.