Kinsale Capital Group (NYSE:KNSL) Price Target Cut to $348.00 by Analysts at Wells Fargo & Company

Kinsale Capital Group (NYSE:KNSL) had its target price reduced by Wells Fargo & Company from $377.00 to $348.00 in a research note issued to investors on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Kinsale Capital Group from $390.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Morgan Stanley decreased their price target on shares of Kinsale Capital Group from $390.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 6th. Cantor Fitzgerald boosted their price target on shares of Kinsale Capital Group from $259.00 to $264.00 and gave the stock a “neutral” rating in a report on Wednesday, October 7th. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $357.67.

Kinsale Capital Group Trading Up 1.2%

KNSL opened at $341.14 on Monday. Kinsale Capital Group has a 12 month low of $287.20 and a 12 month high of $477.02. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.06 and a beta of 0.88. 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 fifty day moving average price of $361.25 and a 200 day moving average price of $340.63.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.43. The company had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%. Kinsale Capital Group’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.78 EPS. Sell-side analysts expect that Kinsale Capital Group will post 21.14 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, August 28th. Kinsale Capital Group’s dividend payout ratio is 4.05%.

Hedge Funds Weigh In On Kinsale Capital Group

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Kinsale Capital Group by 62.4% during the third quarter. GAMMA Investing LLC now owns 1,036 shares of the financial services provider’s stock worth $334,000 after buying an additional 398 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Kinsale Capital Group by 13.5% in the third quarter. Farther Finance Advisors LLC now owns 968 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 115 shares during the period. Benedict Financial Advisors Inc. boosted its holdings in shares of Kinsale Capital Group by 3.5% in the third quarter. Benedict Financial Advisors Inc. now owns 1,964 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 66 shares during the period. American National Bank of Texas grew its position in shares of Kinsale Capital Group by 7.5% during the third quarter. American National Bank of Texas now owns 1,150 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 80 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Kinsale Capital Group during the third quarter worth approximately $206,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc is a specialty insurance company headquartered in Richmond, Virginia. Through its insurance subsidiaries, including Kinsale Insurance Company, the company provides commercial property and casualty insurance in the United States.

Kinsale focuses primarily on the excess and surplus lines market, which serves businesses with risks that may not be accommodated by standard insurance carriers. Its offerings include coverage for commercial property, general liability, professional liability, commercial auto, and other specialized risks.