Compass Point Trims Kinsale Capital Group (NYSE:KNSL) Target Price to $390.00

Kinsale Capital Group (NYSE:KNSL) had its target price reduced by Compass Point from $490.00 to $390.00 in a research report released on Monday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the company. BMO Capital Markets cut Kinsale Capital Group from an outperform rating to a market perform rating and upped their target price for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. Royal Bank of Canada restated a sector perform rating and issued a $425.00 target price (down from $555.00) on shares of Kinsale Capital Group in a report on Monday. JPMorgan Chase & Co. increased their price target on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a neutral rating in a report on Monday, February 26th. Finally, Truist Financial lowered their price target on Kinsale Capital Group from $600.00 to $440.00 and set a buy rating for the company in a report on Monday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $438.43.

Kinsale Capital Group Stock Performance

KNSL stock opened at $378.61 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.12 and a quick ratio of 0.12. The business has a 50-day moving average price of $483.69 and a 200 day moving average price of $414.21. The company has a market capitalization of $8.78 billion, a P/E ratio of 25.16 and a beta of 0.89. Kinsale Capital Group has a 1-year low of $297.33 and a 1-year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.17. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The business had revenue of $372.79 million for the quarter, compared to analyst estimates of $366.45 million. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The company’s revenue was up 41.7% on a year-over-year basis. As a group, equities research analysts forecast that Kinsale Capital Group will post 15.27 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Monday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.99%.

Insider Transactions at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the sale, the chief executive officer now owns 303,972 shares of the company’s stock, valued at approximately $159,199,255.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of Kinsale Capital Group stock in a transaction that occurred on 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 transaction, the director now owns 887 shares of the company’s stock, valued at $464,867.83. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael P. Kehoe sold 4,000 shares of Kinsale Capital Group stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 303,972 shares in the company, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,778 shares of company stock valued at $4,532,422. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Anchor Investment Management LLC purchased a new position in shares of Kinsale Capital Group in the 4th quarter valued at approximately $25,000. Emerald Advisers LLC purchased a new position in shares of Kinsale Capital Group in the 3rd quarter valued at approximately $33,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $33,000. Beacon Capital Management LLC purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $33,000. Finally, Quarry LP purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $40,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Company Profile

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.