Kinsale Capital Group (KNSL) Downgraded by BidaskClub to “Hold”

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BidaskClub downgraded shares of Kinsale Capital Group (NASDAQ:KNSL) from a buy rating to a hold rating in a research report report published on Friday morning.

KNSL has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Kinsale Capital Group from a hold rating to a sell rating in a research report on Thursday, August 9th. William Blair raised shares of Kinsale Capital Group from a market perform rating to an outperform rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $61.33.

Kinsale Capital Group stock opened at $58.89 on Friday. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 47.11 and a beta of 0.62. Kinsale Capital Group has a fifty-two week low of $41.49 and a fifty-two week high of $64.97.

Kinsale Capital Group (NASDAQ:KNSL) last released its earnings results on Friday, November 2nd. The financial services provider reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49. The firm had revenue of $60.14 million during the quarter, compared to analyst estimates of $57.62 million. Kinsale Capital Group had a net margin of 16.33% and a return on equity of 14.84%. Equities analysts expect that Kinsale Capital Group will post 1.82 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Thursday, November 29th. Kinsale Capital Group’s dividend payout ratio is currently 22.40%.

In other news, Director Frederick L. Jr. Russell sold 1,000 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $60.13, for a total transaction of $60,130.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Kehoe sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $59.24, for a total transaction of $592,400.00. Following the transaction, the chief executive officer now directly owns 352,339 shares of the company’s stock, valued at approximately $20,872,562.36. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock valued at $1,076,340 in the last ninety days. 8.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System bought a new stake in Kinsale Capital Group in the third quarter valued at about $201,000. GSA Capital Partners LLP bought a new stake in Kinsale Capital Group in the third quarter valued at about $281,000. Lowe Brockenbrough & Co. Inc. bought a new stake in Kinsale Capital Group in the third quarter valued at about $332,000. Metropolitan Life Insurance Co. NY increased its stake in Kinsale Capital Group by 29.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 6,477 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 1,463 shares during the period. Finally, Voya Investment Management LLC increased its stake in Kinsale Capital Group by 14.9% in the second quarter. Voya Investment Management LLC now owns 7,075 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 915 shares during the period. 83.38% of the stock is owned by institutional investors and hedge funds.

About Kinsale Capital Group

Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess casualty, general casualty, product liability, professional liability, life sciences, allied health, health care, commercial property, management liability, environmental, public entity, inland marine, and commercial insurance, as well as homeowners insurance.

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