Kinsale Capital Group (NYSE:KNSL) Shares Gap Down – Time to Sell?

Kinsale Capital Group, Inc. (NYSE:KNSL – Get Free Report) shares gapped down prior to trading on Friday. The stock had previously closed at $390.64, but opened at $372.00. Kinsale Capital Group shares last traded at $370.1230, with a volume of 170,124 shares trading hands.

Key Stories Impacting Kinsale Capital Group

Here are the key news stories impacting Kinsale Capital Group this week:

Analysts Set New Price Targets

KNSL has been the topic of a number of analyst reports. Cantor Fitzgerald upped their target price on Kinsale Capital Group from $259.00 to $264.00 and gave the company a “neutral” rating in a research note on Wednesday, October 7th. Weiss Ratings raised shares of Kinsale Capital Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Morgan Stanley lowered their price target on Kinsale Capital Group from $390.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Citigroup restated a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday. Finally, Wells Fargo & Company lowered their price target on shares of Kinsale Capital Group from $377.00 to $348.00 and set an “equal weight” rating for the company in a research report on Monday, October 12th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $357.67.

Read Our Latest Report on KNSL

Kinsale Capital Group Price Performance

The firm has a market capitalization of $8.28 billion, a PE ratio of 14.72, a PEG ratio of 1.19 and a beta of 0.88. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $360.05 and a 200 day moving average price of $342.13.

Kinsale Capital Group (NYSE:KNSL – Get Free Report) last posted its earnings results on Thursday, October 22nd. The financial services provider reported $5.70 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.59. The firm had revenue of $454.80 million during the quarter, compared to the consensus estimate of $401.43 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. During the same quarter last year, the firm earned $5.21 EPS. Equities analysts forecast that Kinsale Capital Group, Inc. will post 21.17 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 28th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, August 28th. Kinsale Capital Group’s dividend payout ratio is currently 4.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Inspire Investing LLC boosted its stake in Kinsale Capital Group by 2.7% in the 3rd quarter. Inspire Investing LLC now owns 1,315 shares of the financial services provider’s stock worth $424,000 after buying an additional 35 shares during the last quarter. MBL Wealth LLC purchased a new position in Kinsale Capital Group during the third quarter worth approximately $311,000. Isthmus Partners LLC increased its holdings in shares of Kinsale Capital Group by 4.0% during the 3rd quarter. Isthmus Partners LLC now owns 29,235 shares of the financial services provider’s stock worth $9,436,000 after buying an additional 1,112 shares during the last quarter. Root Financial Partners LLC acquired a new position in Kinsale Capital Group in the third quarter valued at $53,000. Finally, Crossmark Global Holdings Inc. boosted its holdings in Kinsale Capital Group by 47.1% in the third quarter. Crossmark Global Holdings Inc. now owns 1,721 shares of the financial services provider’s stock valued at $555,000 after acquiring an additional 551 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Company Profile

(Get Free Report)

Kinsale Capital Group, Inc is a specialty insurance company headquartered in Richmond, Virginia. Through its insurance subsidiaries, the company focuses primarily on the excess and surplus lines market, providing coverage for risks that may be difficult to insure through standard commercial insurance channels.

Kinsale offers a range of commercial property and casualty products, including coverage for commercial property, general liability, professional liability, inland marine, commercial auto, workers’ compensation and other specialty risks.

Further Reading

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