Kinsale Capital Group (NYSE:KNSL) Price Target Lowered to $440.00 at Truist Financial

Kinsale Capital Group (NYSE:KNSL) had its target price cut by Truist Financial from $600.00 to $440.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on KNSL. Royal Bank of Canada reaffirmed a sector perform rating and set a $425.00 price objective (down from $555.00) on shares of Kinsale Capital Group in a research report on Monday. JPMorgan Chase & Co. raised their price target on Kinsale Capital Group from $375.00 to $420.00 and gave the company a neutral rating in a research note on Monday, February 26th. Finally, BMO Capital Markets downgraded Kinsale Capital Group from an outperform rating to a market perform rating and lifted their price target for the stock from $434.00 to $544.00 in a report on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $451.43.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $358.00 on Monday. Kinsale Capital Group has a 1 year low of $297.33 and a 1 year high of $548.47. The stock has a market capitalization of $8.30 billion, a PE ratio of 23.79 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a 50-day simple moving average of $488.67 and a 200-day simple moving average of $414.99.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The firm had revenue of $372.79 million for the quarter, compared to analysts’ expectations of $366.45 million. During the same quarter last year, the company earned $2.44 earnings per share. The firm’s revenue was up 41.7% compared to the same quarter last year. On average, analysts predict that Kinsale Capital Group will post 15.31 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 Wednesday, March 13th. Investors of record on Tuesday, February 27th were given a $0.15 dividend. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, February 26th. This represents a $0.60 annualized dividend and a yield of 0.17%. Kinsale Capital Group’s dividend payout ratio is 3.99%.

Insider Buying and Selling at Kinsale Capital Group

In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total value of $1,048,180.00. Following the transaction, the director now owns 887 shares in the company, valued at approximately $464,867.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 887 shares of the company’s stock, valued at $464,867.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the transaction, the chief executive officer now directly owns 303,972 shares in the company, valued at $159,199,255.56. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kinsale Capital Group

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Kinsale Capital Group by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,090,492 shares of the financial services provider’s stock worth $700,127,000 after buying an additional 30,729 shares in the last quarter. Invesco Ltd. grew its stake in Kinsale Capital Group by 15.4% in the 3rd quarter. Invesco Ltd. now owns 694,070 shares of the financial services provider’s stock worth $287,435,000 after acquiring an additional 92,496 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Kinsale Capital Group in the 1st quarter valued at $196,358,000. DAVENPORT & Co LLC lifted its stake in shares of Kinsale Capital Group by 154.5% during the 4th quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock worth $109,362,000 after purchasing an additional 198,129 shares during the period. Finally, Riverbridge Partners LLC boosted its holdings in shares of Kinsale Capital Group by 25.4% during the first quarter. Riverbridge Partners LLC now owns 311,664 shares of the financial services provider’s stock worth $163,543,000 after purchasing an additional 63,141 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

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.