Kinsale Capital Group (NYSE:KNSL) Upgraded to “Hold” 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 research note published on Sunday.

KNSL has been the topic of several other research reports. JPMorgan Chase & Co. reduced their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Morgan Stanley lifted their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an “overweight” rating in a research note on Monday, May 19th. Truist Financial dropped their target price on shares of Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Finally, Bank of America started coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They issued a “buy” rating and a $543.00 target price on the stock. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and a consensus price target of $491.88.

Kinsale Capital Group Stock Down 0.1%

Shares of NYSE KNSL opened at $477.52 on Friday. Kinsale Capital Group has a 12-month low of $366.92 and a 12-month high of $531.79. The company has a market capitalization of $11.13 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.78 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.11 and a quick ratio of 0.11. The firm’s 50-day moving average is $464.28 and its two-hundred day moving average is $460.23.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.56. Kinsale Capital Group had a net margin of 24.73% and a return on equity of 26.36%. The company had revenue of $423.40 million for the quarter, compared to the consensus estimate of $425.73 million. During the same quarter in the prior year, the firm earned $3.50 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a dividend yield of 0.15%. Kinsale Capital Group’s payout ratio is 3.91%.

Insider Activity

In related news, EVP Diane D. Schnupp sold 1,398 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $472.00, for a total value of $659,856.00. Following the sale, the executive vice president now directly owns 6,646 shares in the company, valued at approximately $3,136,912. The trade was a 17.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.50% 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. LPL Financial LLC increased its stake in shares of Kinsale Capital Group by 29.4% during the fourth quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider’s stock worth $9,310,000 after buying an additional 4,644 shares during the period. California Public Employees Retirement System boosted its holdings in Kinsale Capital Group by 11.8% in the fourth quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider’s stock valued at $18,299,000 after purchasing an additional 4,146 shares in the last quarter. Merit Financial Group LLC acquired a new position in Kinsale Capital Group in the first quarter valued at approximately $441,000. Portside Wealth Group LLC boosted its holdings in shares of Kinsale Capital Group by 206.3% in the first quarter. Portside Wealth Group LLC now owns 1,835 shares of the financial services provider’s stock valued at $893,000 after acquiring an additional 1,236 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Kinsale Capital Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider’s stock valued at $70,907,000 after acquiring an additional 3,970 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.