Kinsale Capital Group (NYSE:KNSL) Stock Price Down 5.1% – What’s Next?

Kinsale Capital Group, Inc. (NYSE:KNSL)’s stock price was down 5.1% on Monday . The stock traded as low as $394.74 and last traded at $392.7950. Approximately 62,575 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 203,418 shares. The stock had previously closed at $414.10.

Analysts Set New Price Targets

KNSL has been the subject of a number of research reports. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. TD Cowen cut their target price on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. JPMorgan Chase & Co. decreased their target price on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Finally, Royal Bank Of Canada started coverage on Kinsale Capital Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and an average price target of $476.60.

Kinsale Capital Group Price Performance

The stock has a market cap of $9.08 billion, a P/E ratio of 22.60, a P/E/G ratio of 1.46 and a beta of 0.99. The company’s 50 day moving average price is $392.44 and its 200-day moving average price is $417.71. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, February 26th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.34%.

Kinsale Capital Group announced that its board has approved a share repurchase plan on Thursday, December 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new position in Kinsale Capital Group in the fourth quarter valued at approximately $25,000. eCIO Inc. bought a new stake in shares of Kinsale Capital Group in the 4th quarter valued at $29,000. International Assets Investment Management LLC acquired a new position in shares of Kinsale Capital Group during the 4th quarter valued at $29,000. Johnson Financial Group Inc. boosted its stake in Kinsale Capital Group by 257.1% during the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 54 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new stake in Kinsale Capital Group in the third quarter worth $33,000. 85.36% of the stock is currently 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.