Kinsale Capital Group (NYSE:KNSL) Price Target Raised to $377.00

Kinsale Capital Group (NYSE:KNSL) had its target price boosted by Wells Fargo & Company from $366.00 to $377.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Several other research firms have also commented on KNSL. Morgan Stanley decreased their target price on shares of 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. Truist Financial cut 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 report on Monday, April 27th. Royal Bank Of Canada reduced their price target on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. TD Cowen reissued a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, Weiss Ratings cut shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Kinsale Capital Group has a consensus rating of “Reduce” and a consensus price target of $362.11.

Kinsale Capital Group Stock Performance

KNSL opened at $376.57 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group has a 52-week low of $287.20 and a 52-week high of $485.00. The firm has a market cap of $8.68 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.17 and a beta of 0.90. The business’s fifty day moving average is $324.31 and its 200-day moving average is $348.29.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The business had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. During the same quarter in the previous year, the firm earned $4.78 earnings per share. Kinsale Capital Group’s revenue for the quarter was up 16.8% compared to the same quarter last year. Sell-side analysts expect that Kinsale Capital Group will post 21.11 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 annualized dividend and a yield of 0.3%. Kinsale Capital Group’s payout ratio is presently 4.05%.

Insider Transactions at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 22,576 shares of the firm’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 value of $6,832,852.16. Following the sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Christopher R. Tangard purchased 330 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were bought at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the chief accounting officer directly owned 380 shares in the company, valued at $115,520. The trade was a 660.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

A number of hedge funds have recently added to or reduced their stakes in KNSL. Isthmus Partners LLC bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at $8,110,000. Life Cycle Investment Partners Ltd acquired a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $229,653,000. Tudor Investment Corp ET AL grew its position in Kinsale Capital Group by 7,444.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock worth $16,041,000 after acquiring an additional 37,221 shares during the last quarter. Stephens Investment Management Group LLC grew its position in Kinsale Capital Group by 37.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 208,075 shares of the financial services provider’s stock worth $81,382,000 after acquiring an additional 56,916 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Kinsale Capital Group by 9.6% in the 4th quarter. Handelsbanken Fonder AB now owns 57,000 shares of the financial services provider’s stock worth $22,294,000 after purchasing an additional 5,000 shares in 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 (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.