Kinsale Capital Group, Inc. (NYSE:KNSL) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL) have been given a consensus rating of “Reduce” by the ten research firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $362.1111.

Several research analysts have recently weighed in on KNSL shares. JPMorgan Chase & Co. upped their price target on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Weiss Ratings lowered Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Truist Financial reduced their target price on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Royal Bank Of Canada decreased their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Finally, Morgan Stanley lowered their price target on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st.

Kinsale Capital Group Price Performance

KNSL stock opened at $367.46 on Tuesday. The firm has a 50 day moving average of $341.14 and a 200-day moving average of $345.61. The firm has a market capitalization of $8.37 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.20 and a beta of 0.89. Kinsale Capital Group has a 12 month low of $287.20 and a 12 month high of $485.00. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. During the same quarter in the prior year, the firm posted $4.78 EPS. Kinsale Capital Group’s revenue was up 16.8% on a year-over-year basis. As a group, sell-side analysts predict that Kinsale Capital Group will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.05%.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the transaction, the insider directly owned 3,645 shares in the company, valued at $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher R. Tangard purchased 330 shares of the stock in a transaction on Monday, June 8th. The stock was acquired at an average cost of $304.00 per share, with a total value of $100,320.00. Following the completion of the purchase, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. The trade was a 660.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kinsale Capital Group

A number of hedge funds and other institutional investors have recently modified their holdings of KNSL. Jefferies Financial Group Inc. purchased a new stake in Kinsale Capital Group during the 2nd quarter valued at about $226,000. Public Employees Retirement System of Ohio purchased a new position in Kinsale Capital Group in the 2nd quarter worth approximately $2,081,000. Corient Private Wealth LP purchased a new position in Kinsale Capital Group in the 2nd quarter worth approximately $208,000. Bamco Inc. NY purchased a new position in Kinsale Capital Group in the 2nd quarter worth approximately $878,600,000. Finally, Bank of America Corp DE bought a new stake in Kinsale Capital Group in the second quarter valued at approximately $69,470,000. Institutional investors own 85.36% of the company’s stock.

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.