Kinsale Capital Group (NYSE:KNSL) Shares Gap Up – What’s Next?

Kinsale Capital Group, Inc. (NYSE:KNSL)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $319.61, but opened at $339.00. Kinsale Capital Group shares last traded at $345.9980, with a volume of 20,224 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KNSL shares. Truist Financial reduced their price target on shares of 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. Wells Fargo & Company lifted their price objective on shares of Kinsale Capital Group from $357.00 to $366.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Jefferies Financial Group cut shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and dropped their target price for the company from $392.00 to $312.00 in a research note on Thursday, March 19th. Weiss Ratings downgraded shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. Finally, TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $375.80.

Kinsale Capital Group Price Performance

The firm has a market cap of $7.99 billion, a P/E ratio of 15.25, a PEG ratio of 1.03 and a beta of 0.90. The business’s fifty day simple moving average is $316.85 and its 200-day simple moving average is $351.28. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The firm had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company earned $3.71 earnings per share. As a group, analysts forecast that Kinsale Capital Group, Inc. will post 20.71 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

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

Insider Activity

In other news, CAO Christopher R. Tangard acquired 330 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was bought at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the chief accounting officer 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael P. Kehoe sold 22,576 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the transaction, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

Several institutional investors and hedge funds have recently bought and sold shares of KNSL. Bayban bought a new position in Kinsale Capital Group in the 4th quarter valued at $25,000. V Square Quantitative Management LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter worth $25,000. eCIO Inc. bought a new position in shares of Kinsale Capital Group in the fourth quarter worth $29,000. International Assets Investment Management LLC purchased a new stake in shares of Kinsale Capital Group in the fourth quarter worth $29,000. Finally, Johnson Financial Group Inc. raised its position in shares of Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after buying an additional 54 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.