Kinsale Capital Group (NYSE:KNSL) Hits New 1-Year Low – Time to Sell?

Kinsale Capital Group, Inc. (NYSE:KNSL)’s share price reached a new 52-week low on Thursday . The company traded as low as $321.52 and last traded at $322.7250, with a volume of 130030 shares. The stock had previously closed at $331.03.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KNSL shares. Wells Fargo & Company downgraded Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $420.00 to $357.00 in a research report on Monday, April 27th. BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a research report on Wednesday, February 25th. Wall Street Zen downgraded Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $350.00 price target (down from $450.00) on shares of Kinsale Capital Group in a research report on Monday, April 6th. Finally, Truist Financial reduced their price target on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $392.00.

Kinsale Capital Group Stock Performance

The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average of $354.05 and a 200-day moving average of $382.69. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 1.05 and a beta of 0.95.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The firm had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. During the same period in the prior year, the firm earned $3.71 EPS. The firm’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts predict that Kinsale Capital Group, Inc. will post 20.54 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s payout ratio is currently 4.40%.

Hedge Funds Weigh In On Kinsale Capital Group

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Kinsale Capital Group by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock valued at $191,386,000 after purchasing an additional 25,428 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Kinsale Capital Group by 17.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 22,501 shares of the financial services provider’s stock valued at $9,569,000 after purchasing an additional 3,305 shares during the last quarter. Leibman Financial Services Inc. boosted its holdings in Kinsale Capital Group by 109.9% in the fourth quarter. Leibman Financial Services Inc. now owns 9,438 shares of the financial services provider’s stock valued at $3,691,000 after purchasing an additional 4,942 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Kinsale Capital Group by 492.8% in the third quarter. SG Americas Securities LLC now owns 14,404 shares of the financial services provider’s stock valued at $6,125,000 after purchasing an additional 11,974 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in Kinsale Capital Group in the third quarter valued at $6,546,000. 85.36% of the stock is owned by institutional investors and hedge funds.

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.