Kinsale Capital Group (NYSE:KNSL) Price Target Raised to $390.00

Kinsale Capital Group (NYSE:KNSL) had its price objective increased by Morgan Stanley from $345.00 to $390.00 in a research note published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. increased their price objective on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company boosted their target price on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Royal Bank Of Canada reduced their target price on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Truist Financial decreased their price target on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Finally, TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Kinsale Capital Group has an average rating of “Reduce” and a consensus target price of $368.78.

Kinsale Capital Group Trading Up 0.7%

Shares of Kinsale Capital Group stock opened at $383.66 on Wednesday. Kinsale Capital Group has a 1 year low of $287.20 and a 1 year high of $485.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The business has a 50 day moving average price of $346.72 and a 200 day moving average price of $345.56. The company has a market capitalization of $8.74 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.20 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last announced its 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 firm had revenue of $548.52 million for the quarter, compared to analysts’ expectations of $445.13 million. During the same quarter in the prior year, the firm earned $4.78 EPS. Kinsale Capital Group’s quarterly revenue was up 16.8% on a year-over-year basis. Sell-side analysts anticipate that Kinsale Capital Group will post 21.1 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is currently 4.05%.

Insider Activity

In related news, CAO Christopher R. Tangard acquired 330 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were acquired at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the acquisition, the chief accounting officer directly owned 380 shares in the company, valued at approximately $115,520. The trade was a 660.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares in the company, valued at $1,134,214.65. This represents a 6.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bamco Inc. NY acquired a new stake in Kinsale Capital Group during the 2nd quarter worth approximately $878,600,000. BlackRock Inc. acquired a new position in Kinsale Capital Group during the second quarter valued at approximately $671,457,000. Capital World Investors lifted its position in Kinsale Capital Group by 117.4% during the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after buying an additional 533,499 shares in the last quarter. First Manhattan CO. LLC. grew its stake in Kinsale Capital Group by 19.6% during 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 during the period. Finally, Life Cycle Investment Partners Ltd purchased a new stake in Kinsale Capital Group during the fourth quarter worth approximately $229,653,000. 85.36% of the stock is currently 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.