Zacks Investment Research Upgrades Kinsale Capital Group (KNSL) to “Hold”
Zacks Investment Research upgraded shares of Kinsale Capital Group (NASDAQ:KNSL) from a sell rating to a hold rating in a report issued on Tuesday.
According to Zacks, “Kinsale Capital Group, Inc. is a specialty insurance company. Its commercial lines offerings include construction, small business, professional liability, excess casualty, energy, general casualty, life sciences, allied health, product liability, healthcare, commercial property, management liability, inland marine, environmental, public entity and commercial insurance. The Company also writes homeowners insurance in the personal lines market. Kinsale Capital Group, Inc. is based in Richmond, Virginia. “
Several other brokerages have also commented on KNSL. SunTrust Banks reaffirmed a buy rating and set a $50.00 price target on shares of Kinsale Capital Group in a research report on Monday, October 9th. They noted that the move was a valuation call. William Blair downgraded shares of Kinsale Capital Group from an outperform rating to a market perform rating in a research note on Monday, October 9th.
Shares of Kinsale Capital Group (KNSL) traded down $0.35 during mid-day trading on Tuesday, reaching $42.13. 69,140 shares of the company traded hands, compared to its average volume of 81,702. Kinsale Capital Group has a 1 year low of $27.19 and a 1 year high of $47.78. The firm has a market capitalization of $893.35, a price-to-earnings ratio of 35.11 and a beta of -0.27.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.24 annualized dividend and a yield of 0.57%. Kinsale Capital Group’s dividend payout ratio is currently 19.83%.
In other news, SVP Ann Marie Marson sold 2,500 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $43.00, for a total value of $107,500.00. Following the completion of the transaction, the senior vice president now directly owns 112,834 shares in the company, valued at $4,851,862. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick L. Jr. Russell sold 124,812 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $36.58, for a total transaction of $4,565,622.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,812 shares of company stock valued at $4,995,623. 11.20% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Kinsale Capital Group by 678.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,826 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 2,463 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Kinsale Capital Group by 17.0% in the second quarter. Russell Investments Group Ltd. now owns 3,540 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 515 shares during the period. Howland Capital Management LLC purchased a new position in shares of Kinsale Capital Group in the third quarter valued at $203,000. Hancock Holding Co. purchased a new position in shares of Kinsale Capital Group in the second quarter valued at $216,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Kinsale Capital Group in the first quarter valued at $218,000. Institutional investors and hedge funds own 82.27% of the company’s stock.
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Kinsale Capital Group Company Profile
Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.
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