Kinsale Capital Group (NYSE:KNSL) Price Target Raised to $390.00

Kinsale Capital Group (NYSE:KNSL) had its target price hoisted by JPMorgan Chase & Co. from $380.00 to $390.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other brokerages have also weighed in on KNSL. Cantor Fitzgerald dropped their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Weiss Ratings downgraded Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Royal Bank Of Canada cut their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Finally, Truist Financial reduced their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $373.80.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $325.63 on Monday. The company has a fifty day moving average of $319.83 and a 200-day moving average of $349.77. The firm has a market capitalization of $7.51 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.09 and a beta of 0.90. The company has a quick ratio of 0.10, a current ratio of 0.10 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 $512.76.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. The business had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. Kinsale Capital Group’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.71 earnings per share. As a group, sell-side analysts anticipate that Kinsale Capital Group will post 20.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.40%.

Insider Activity

In other news, insider Salmaan K. Allibhai sold 250 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares of the company’s stock, valued at $1,134,214.65. The trade was a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Kehoe sold 22,576 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the sale, the chief executive officer owned 308,048 shares in the company, valued at $93,233,807.68. This represents a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in shares of Kinsale Capital Group during the fourth quarter valued at approximately $25,000. Bayban purchased a new stake in Kinsale Capital Group in the 4th quarter valued at $25,000. eCIO Inc. purchased a new stake in Kinsale Capital Group in the 4th quarter valued at $29,000. International Assets Investment Management LLC bought a new position in Kinsale Capital Group during the 4th quarter valued at $29,000. Finally, Johnson Financial Group Inc. lifted its stake in Kinsale Capital Group by 257.1% during the 3rd 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 in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Company Profile

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.