Kinsale Capital Group (NYSE:KNSL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Kinsale Capital Group (NYSE:KNSL) from a sell rating to a hold rating in a report issued on Saturday.

Several other brokerages also recently weighed in on KNSL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Friday, March 27th. Wells Fargo & Company began coverage on Kinsale Capital Group in a research note on Thursday, January 15th. They set an “overweight” rating and a $490.00 target price for the company. Truist Financial reduced their target price on Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Jefferies Financial Group downgraded Kinsale Capital Group from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $392.00 to $312.00 in a research note on Thursday, March 19th. Finally, Cantor Fitzgerald reduced their target price on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday, February 17th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $419.09.

Kinsale Capital Group Trading Up 0.5%

Shares of KNSL stock opened at $346.65 on Friday. 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 cap of $8.03 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 1.13 and a beta of 1.08. The stock has a 50 day simple moving average of $369.69 and a 200-day simple moving average of $393.77. Kinsale Capital Group has a 1-year low of $321.97 and a 1-year high of $512.76.

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

Kinsale Capital Group announced that its Board of Directors has approved a stock buyback program on Thursday, December 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 26th. This is a positive change 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%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 4.61%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bayban purchased a new position in Kinsale Capital Group in the 4th quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new position in Kinsale Capital Group in the 4th quarter worth approximately $25,000. eCIO Inc. purchased a new position in Kinsale Capital Group in the 4th quarter worth approximately $29,000. International Assets Investment Management LLC purchased a new position in Kinsale Capital Group in the 4th quarter worth approximately $29,000. Finally, Johnson Financial Group Inc. grew its holdings in Kinsale Capital Group by 257.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after buying 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.