Kinsale Capital Group (NYSE:KNSL) Reaches New 12-Month Low – Time to Sell?

Kinsale Capital Group, Inc. (NYSE:KNSL) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $300.23 and last traded at $305.2090, with a volume of 321410 shares trading hands. The stock had previously closed at $304.16.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KNSL. Cantor Fitzgerald lowered their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Weiss Ratings downgraded shares of Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $350.00 price objective (down from $450.00) on shares of Kinsale Capital Group in a research note on Monday, April 6th. JPMorgan Chase & Co. lowered their price objective on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Finally, BMO Capital Markets downgraded shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective for the company. in a research note on Wednesday, February 25th. Two 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $392.00.

Kinsale Capital Group Trading Up 0.3%

The stock has a market capitalization of $7.04 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.99 and a beta of 0.95. The firm’s 50 day moving average price is $352.68 and its 200 day moving average price is $380.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10.

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

Kinsale Capital Group Increases Dividend

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

Hedge Funds Weigh In On Kinsale Capital Group

A number of institutional investors have recently bought and sold shares of the stock. Bamco Inc. NY raised its stake in Kinsale Capital Group by 1.4% in the third quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock worth $760,616,000 after buying an additional 24,796 shares in the last quarter. Capital World Investors raised its stake in Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock worth $386,366,000 after buying an additional 533,499 shares in the last quarter. First Manhattan CO. LLC. raised its stake in Kinsale Capital Group by 19.6% in the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock worth $240,401,000 after buying an additional 100,600 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new position in Kinsale Capital Group in the fourth quarter worth about $229,653,000. Finally, DAVENPORT & Co LLC raised its stake in Kinsale Capital Group by 1.9% in the fourth quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock worth $208,443,000 after buying an additional 10,137 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

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.