Traders Buy Large Volume of Kinsale Capital Group Call Options (NYSE:KNSL)

Kinsale Capital Group, Inc. (NYSE:KNSL) saw unusually large options trading on Wednesday. Investors acquired 2,378 call options on the company. This is an increase of approximately 2,231% compared to the average daily volume of 102 call options.

Wall Street Analysts Forecast Growth

KNSL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Kinsale Capital Group from $390.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. Weiss Ratings upgraded shares of Kinsale Capital Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Wells Fargo & Company decreased their price objective on Kinsale Capital Group from $377.00 to $348.00 and set an “equal weight” rating on the stock in a report on Monday. Cantor Fitzgerald upped their target price on shares of Kinsale Capital Group from $259.00 to $264.00 and gave the stock a “neutral” rating in a report on Wednesday, October 7th. Finally, Morgan Stanley dropped their target price on shares of Kinsale Capital Group from $390.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Kinsale Capital Group presently has an average rating of “Reduce” and a consensus price target of $357.67.

Institutional Trading of Kinsale Capital Group

A number of institutional investors and hedge funds have recently modified their holdings of KNSL. Bamco Inc. NY bought a new stake in Kinsale Capital Group in the second quarter valued at approximately $878,600,000. BlackRock Inc. acquired a new stake in Kinsale Capital Group in the second quarter worth $671,457,000. First Manhattan CO. LLC. boosted its position in shares of Kinsale Capital Group by 19.6% during the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock worth $240,401,000 after purchasing an additional 100,600 shares in the last quarter. Turtle Creek Asset Management Inc. boosted its position in shares of Kinsale Capital Group by 47.6% during the first quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock worth $140,506,000 after purchasing an additional 132,576 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Kinsale Capital Group by 5.0% during the first quarter. Dimensional Fund Advisors LP now owns 299,832 shares of the financial services provider’s stock worth $102,435,000 after purchasing an additional 14,178 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Trading Up 2.4%

KNSL stock opened at $357.47 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 twelve month low of $287.20 and a twelve month high of $462.82. The company has a market cap of $8.14 billion, a P/E ratio of 16.11, a PEG ratio of 1.10 and a beta of 0.88. The business has a fifty day moving average of $359.97 and a 200-day moving average of $341.02.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%. The business had revenue of $548.52 million for the quarter, compared to analysts’ expectations of $445.13 million. During the same quarter last year, the business earned $4.78 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, equities research analysts expect that Kinsale Capital Group will post 21.17 EPS for the current year.

Kinsale Capital Group Dividend Announcement

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

About Kinsale Capital Group

Kinsale Capital Group, Inc is a specialty insurance company headquartered in Richmond, Virginia. Through its insurance subsidiaries, including Kinsale Insurance Company, the company provides commercial property and casualty insurance in the United States.

Kinsale focuses primarily on the excess and surplus lines market, which serves businesses with risks that may not be accommodated by standard insurance carriers. Its offerings include coverage for commercial property, general liability, professional liability, commercial auto, and other specialized risks.