Kinsale Capital Group’s (KNSL) “Equal Weight” Rating Reiterated at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Kinsale Capital Group (NYSE:KNSL) in a research report sent to investors on Monday morning, Marketbeat reports. The brokerage currently has a $350.00 target price on the financial services provider’s stock, down from their prior target price of $450.00.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company began coverage on shares of Kinsale Capital Group in a research report on Thursday, January 15th. They set an “overweight” rating and a $490.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Friday, March 27th. Jefferies Financial Group downgraded shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $392.00 to $312.00 in a research report on Thursday, March 19th. JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Finally, Cantor Fitzgerald lowered their price target on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $419.09.

Kinsale Capital Group Trading Up 3.2%

Kinsale Capital Group stock opened at $356.46 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.13 and a beta of 1.08. Kinsale Capital Group has a one year low of $321.97 and a one year high of $512.76. The company’s fifty day moving average price is $368.20 and its two-hundred day moving average price is $392.93.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, topping the consensus estimate of $5.30 by $0.51. The firm had revenue of $483.27 million for the quarter, compared to the consensus estimate of $467.66 million. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. During the same period in the prior year, the business posted $4.62 earnings per share. On average, analysts forecast that Kinsale Capital Group will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th were given a $0.25 dividend. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.61%.

Kinsale Capital Group announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Kinsale Capital Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in shares of Kinsale Capital Group during the fourth quarter valued at about $25,000. Bayban acquired a new stake in Kinsale Capital Group during the fourth quarter worth about $25,000. eCIO Inc. bought a new position in Kinsale Capital Group during the fourth quarter valued at about $29,000. International Assets Investment Management LLC bought a new position in Kinsale Capital Group during the fourth quarter valued at about $29,000. Finally, Johnson Financial Group Inc. increased 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 valued at $32,000 after acquiring an additional 54 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

About Kinsale Capital Group

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.