Kinsale Capital Group, Inc. (NYSE:KNSL) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL) have been assigned a consensus rating of “Reduce” from the eleven research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $375.80.

KNSL has been the subject of several research reports. Morgan Stanley lowered their price target on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings downgraded shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Royal Bank Of Canada lowered their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a report on Monday, April 27th. Finally, Jefferies Financial Group cut Kinsale Capital Group from a “hold” rating to an “underperform” rating and dropped their target price for the company from $392.00 to $312.00 in a research report on Thursday, March 19th.

Kinsale Capital Group Stock Up 5.2%

NYSE:KNSL opened at $336.13 on Friday. Kinsale Capital Group has a 1-year low of $287.20 and a 1-year high of $512.76. The company has a 50-day moving average of $316.85 and a 200 day moving average of $351.28. The firm has a market cap of $7.75 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.03 and a beta of 0.90. 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 earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. The company had revenue of $466.71 million for the quarter, compared to analysts’ expectations of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $3.71 EPS. As a group, research analysts anticipate that Kinsale Capital Group will post 20.71 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is 4.40%.

Insider Activity at Kinsale Capital Group

In related news, CAO Christopher R. Tangard acquired 330 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were bought at an average price of $304.00 per share, with a total value of $100,320.00. Following the completion of the transaction, the chief accounting officer directly owned 380 shares in the company, valued at $115,520. This trade represents a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the transaction, the chief executive officer owned 308,048 shares in the company, valued at $93,233,807.68. This trade represents a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Kinsale Capital Group

A number of institutional investors have recently modified their holdings of the company. Life Cycle Investment Partners Ltd purchased a new position in shares of Kinsale Capital Group in the 4th quarter worth approximately $229,653,000. 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 acquiring an additional 533,499 shares during the last quarter. Norges Bank acquired a new stake in Kinsale Capital Group in the fourth quarter valued at approximately $107,916,000. Bank of America Corp DE boosted its stake in Kinsale Capital Group by 89.0% in the first quarter. Bank of America Corp DE now owns 285,535 shares of the financial services provider’s stock valued at $97,556,000 after acquiring an additional 134,468 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. grew its holdings in Kinsale Capital Group by 47.6% in the first quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock worth $140,506,000 after purchasing an additional 132,576 shares during the last quarter. 85.36% of the stock is currently 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.