Kinsale Capital Group (NYSE:KNSL) Hits New 1-Year Low – Should You Sell?

Kinsale Capital Group, Inc. (NYSE:KNSL) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $321.97 and last traded at $324.7930, with a volume of 74916 shares changing hands. The stock had previously closed at $326.50.

Analyst Ratings Changes

KNSL has been the subject of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. Cantor Fitzgerald decreased their target price on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. JPMorgan Chase & Co. lowered their target price on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Wells Fargo & Company initiated coverage on Kinsale Capital Group in a report on Thursday, January 15th. They set an “overweight” rating and a $490.00 price target for the company. Finally, BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target for the company. in a research note on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $430.91.

Kinsale Capital Group Stock Down 0.8%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market cap of $7.50 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.07 and a beta of 1.01. The stock’s fifty day simple moving average is $381.10 and its 200-day simple moving average is $399.77.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.30 by $0.51. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. The firm had revenue of $483.27 million for the quarter, compared to analyst estimates of $467.66 million. During the same quarter in the prior year, the business posted $4.62 EPS. As a group, research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were paid a dividend of $0.25 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is 4.61%.

Kinsale Capital Group declared that its board has approved a share buyback program on Thursday, December 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Kinsale Capital Group

A number of institutional investors have recently modified their holdings of KNSL. V Square Quantitative Management LLC acquired a new position in Kinsale Capital Group in the fourth quarter valued at about $25,000. Bayban bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at $25,000. eCIO Inc. bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at $29,000. International Assets Investment Management LLC acquired a new position in shares of Kinsale Capital Group during the 4th quarter worth $29,000. Finally, Johnson Financial Group Inc. lifted its position in shares of Kinsale Capital Group by 257.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after buying an additional 54 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.