Kinsale Capital Group (NYSE:KNSL) Shares Gap Down to $453.09

Kinsale Capital Group, Inc. (NYSE:KNSL)’s share price gapped down prior to trading on Friday . The stock had previously closed at $453.09, but opened at $392.00. Kinsale Capital Group shares last traded at $378.05, with a volume of 192,918 shares traded.

Analyst Upgrades and Downgrades

KNSL has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Truist Financial upped their price objective on Kinsale Capital Group from $450.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. BMO Capital Markets cut Kinsale Capital Group from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $434.00 to $544.00 in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada upped their price objective on Kinsale Capital Group from $410.00 to $555.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $510.00.

Kinsale Capital Group Price Performance

The firm has a fifty day moving average price of $494.22 and a two-hundred day moving average price of $416.33. The stock has a market capitalization of $8.69 billion, a P/E ratio of 28.78 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.12 and a current ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.17. The firm had revenue of $372.79 million for the quarter, compared to analysts’ expectations of $366.45 million. Kinsale Capital Group had a return on equity of 31.52% and a net margin of 25.29%. The company’s revenue was up 41.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 EPS. As a group, analysts expect that Kinsale Capital Group, Inc. will post 15.26 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were issued a $0.15 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Monday, February 26th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.54%.

Insider Buying and Selling

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 887 shares in the company, valued at $464,867.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the transaction, the chief executive officer now owns 303,972 shares of the company’s stock, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KNSL. Anchor Investment Management LLC bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $25,000. Emerald Advisers LLC bought a new position in shares of Kinsale Capital Group in the 3rd quarter valued at about $33,000. Brown Brothers Harriman & Co. bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $33,000. Beacon Capital Management LLC bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $33,000. Finally, Quarry LP bought a new stake in Kinsale Capital Group in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

About Kinsale Capital Group

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.