Oppenheimer Begins Coverage on Kinsale Capital Group (NYSE:KNSL)

Oppenheimer began coverage on shares of Kinsale Capital Group (NYSE:KNSL) in a research note published on Friday morning, Marketbeat Ratings reports. The firm issued a market perform rating on the financial services provider’s stock.

KNSL has been the topic of several other research reports. BMO Capital Markets cut their price target on Kinsale Capital Group from $544.00 to $453.00 and set a market perform rating on the stock in a report on Tuesday, April 30th. Compass Point cut their price target on Kinsale Capital Group from $490.00 to $390.00 and set a neutral rating on the stock in a report on Monday, April 29th. JPMorgan Chase & Co. upped their price objective on Kinsale Capital Group from $400.00 to $420.00 and gave the stock a neutral rating in a research report on Thursday, July 11th. Royal Bank of Canada reaffirmed a sector perform rating and set a $425.00 price objective (down from $555.00) on shares of Kinsale Capital Group in a research report on Monday, April 29th. Finally, Truist Financial lowered their price objective on Kinsale Capital Group from $600.00 to $440.00 and set a buy rating for the company in a research report on Monday, April 29th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $434.00.

Kinsale Capital Group Price Performance

KNSL stock opened at $397.94 on Friday. The business’s fifty day moving average price is $385.59 and its 200 day moving average price is $424.13. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.16. Kinsale Capital Group has a 12-month low of $325.01 and a 12-month high of $548.47. The company has a market capitalization of $9.26 billion, a PE ratio of 26.44 and a beta of 1.06.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The company had revenue of $372.79 million for the quarter, compared to the consensus estimate of $366.45 million. During the same quarter in the prior year, the business earned $2.44 EPS. Kinsale Capital Group’s revenue was up 41.7% on a year-over-year basis. On average, sell-side analysts anticipate that Kinsale Capital Group will post 14.91 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Friday, May 31st were given a $0.15 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.15%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

Insider Activity at Kinsale Capital Group

In related news, COO Brian D. Haney sold 3,778 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the completion of the sale, the chief operating officer now directly owns 95,850 shares of the company’s stock, valued at approximately $35,247,879. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Kinsale Capital Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 2,090,492 shares of the financial services provider’s stock worth $700,127,000 after acquiring an additional 30,729 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in Kinsale Capital Group during the 1st quarter worth approximately $196,358,000. DAVENPORT & Co LLC lifted its position in Kinsale Capital Group by 0.4% during the 1st quarter. DAVENPORT & Co LLC now owns 327,664 shares of the financial services provider’s stock worth $173,095,000 after acquiring an additional 1,286 shares during the period. Riverbridge Partners LLC lifted its position in Kinsale Capital Group by 25.4% during the 1st quarter. Riverbridge Partners LLC now owns 311,664 shares of the financial services provider’s stock worth $163,543,000 after acquiring an additional 63,141 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Kinsale Capital Group by 5.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 291,339 shares of the financial services provider’s stock worth $97,572,000 after acquiring an additional 15,718 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Company Profile

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.