Kinsale Capital Group (NYSE:KNSL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Kinsale Capital Group (NYSE:KNSL) from a sell rating to a hold rating in a report published on Sunday.

KNSL has been the subject of several other reports. JPMorgan Chase & Co. decreased their target price on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. TD Cowen lowered their price objective on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Morgan Stanley dropped their target price on Kinsale Capital Group from $490.00 to $480.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 8th. Finally, Royal Bank Of Canada initiated coverage on Kinsale Capital Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $483.78.

Kinsale Capital Group Trading Down 1.8%

NYSE KNSL opened at $385.06 on Friday. 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 has a 52 week low of $349.00 and a 52 week high of $512.76. The business has a 50 day moving average price of $405.11 and a 200-day moving average price of $439.23. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.40 and a beta of 0.96.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.79 by $0.42. The business had revenue of $497.51 million during the quarter, compared to the consensus estimate of $446.00 million. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 25.66%. Kinsale Capital Group’s revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm posted $4.20 EPS. As a group, equities analysts expect that Kinsale Capital Group will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group declared that its board has authorized a stock buyback plan on Thursday, December 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Friday, November 28th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, November 28th. Kinsale Capital Group’s dividend payout ratio is 3.34%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KNSL. Mirabella Financial Services LLP increased its stake in shares of Kinsale Capital Group by 115.3% during the 3rd quarter. Mirabella Financial Services LLP now owns 7,833 shares of the financial services provider’s stock worth $3,325,000 after purchasing an additional 4,194 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in Kinsale Capital Group by 7,444.2% during the third quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock valued at $16,041,000 after purchasing an additional 37,221 shares during the period. Allworth Financial LP increased its position in Kinsale Capital Group by 22.6% in the third quarter. Allworth Financial LP now owns 315 shares of the financial services provider’s stock worth $134,000 after buying an additional 58 shares during the last quarter. IFP Advisors Inc purchased a new stake in Kinsale Capital Group in the third quarter worth $75,000. Finally, Swiss Life Asset Management Ltd raised its stake in shares of Kinsale Capital Group by 78.7% in the third quarter. Swiss Life Asset Management Ltd now owns 1,024 shares of the financial services provider’s stock valued at $435,000 after buying an additional 451 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.