Kinsale Capital Group, Inc. (NYSE:KNSL) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL) have received an average rating of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $441.9091.

Several research analysts have weighed in on the stock. Cantor Fitzgerald decreased their price objective on shares of Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a research report on Tuesday, December 16th. JPMorgan Chase & Co. decreased their price target on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. Finally, Wells Fargo & Company assumed coverage on Kinsale Capital Group in a research note on Thursday, January 15th. They set an “overweight” rating and a $490.00 price objective on the stock.

Hedge Funds Weigh In On Kinsale Capital Group

Several large investors have recently added to or reduced their stakes in the company. World Investment Advisors increased its stake in Kinsale Capital Group by 47.9% during the fourth quarter. World Investment Advisors now owns 1,028 shares of the financial services provider’s stock valued at $402,000 after purchasing an additional 333 shares during the last quarter. Montanaro Asset Management Ltd bought a new position in shares of Kinsale Capital Group in the 4th quarter worth about $1,095,000. Bayban bought a new position in shares of Kinsale Capital Group in the 4th quarter worth about $25,000. Virtu Financial LLC boosted its holdings in shares of Kinsale Capital Group by 175.2% in the 4th quarter. Virtu Financial LLC now owns 3,118 shares of the financial services provider’s stock valued at $1,219,000 after buying an additional 1,985 shares during the period. Finally, Vancity Investment Management Ltd boosted its holdings in shares of Kinsale Capital Group by 11.9% in the 4th quarter. Vancity Investment Management Ltd now owns 2,423 shares of the financial services provider’s stock valued at $947,000 after buying an additional 258 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $362.76 on Friday. Kinsale Capital Group has a 52 week low of $341.06 and a 52 week high of $512.76. 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 stock has a market cap of $8.40 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. The stock has a 50 day moving average of $389.19 and a 200-day moving average of $406.23.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly 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. The business had revenue of $483.27 million during the quarter, compared to analyst estimates of $467.66 million. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. During the same quarter in the previous year, the firm earned $4.62 earnings per share. On average, analysts expect that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th were issued a $0.25 dividend. This is a positive change 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 dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 4.61%.

Kinsale Capital Group announced that its Board of Directors has authorized a share buyback plan on Thursday, December 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

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.