Kinsale Capital Group (NYSE:KNSL) Shares Gap Down – Time to Sell?

Kinsale Capital Group, Inc. (NYSE:KNSL)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $453.15, but opened at $435.00. Kinsale Capital Group shares last traded at $428.79, with a volume of 152,567 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald raised Kinsale Capital Group to a “hold” rating in a research report on Wednesday, August 13th. Compass Point raised their target price on Kinsale Capital Group from $432.00 to $490.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Truist Financial raised their target price on Kinsale Capital Group from $500.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, July 28th. BMO Capital Markets raised their target price on Kinsale Capital Group from $429.00 to $474.00 and gave the company a “market perform” rating in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on Kinsale Capital Group from $440.00 to $460.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $506.89.

Kinsale Capital Group Trading Down 7.0%

The firm has a fifty day moving average of $446.90 and a two-hundred day moving average of $459.41. The company has a market cap of $9.81 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 1.56 and a beta of 1.09. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share for the quarter, topping the consensus estimate of $4.79 by $0.42. Kinsale Capital Group had a return on equity of 26.74% and a net margin of 26.30%.The company had revenue of $405.06 million during the quarter, compared to analyst estimates of $446.00 million. During the same quarter last year, the firm posted $4.20 EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, sell-side analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 29th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, August 29th. Kinsale Capital Group’s payout ratio is presently 3.34%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KNSL. GAMMA Investing LLC grew its holdings in Kinsale Capital Group by 21.9% during the 1st quarter. GAMMA Investing LLC now owns 635 shares of the financial services provider’s stock valued at $309,000 after buying an additional 114 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Kinsale Capital Group by 26.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,828 shares of the financial services provider’s stock valued at $1,377,000 after buying an additional 584 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Kinsale Capital Group by 10.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider’s stock valued at $1,272,000 after buying an additional 254 shares in the last quarter. Diversified Trust Co grew its holdings in Kinsale Capital Group by 14.7% during the 1st quarter. Diversified Trust Co now owns 4,785 shares of the financial services provider’s stock valued at $2,329,000 after buying an additional 612 shares in the last quarter. Finally, Transcend Capital Advisors LLC grew its holdings in Kinsale Capital Group by 30.6% during the 1st quarter. Transcend Capital Advisors LLC now owns 832 shares of the financial services provider’s stock valued at $405,000 after buying an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

About Kinsale Capital Group

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.