Kinsale Capital Group, Inc. (NYSE:KNSL) Short Interest Up 38.7% in February

Kinsale Capital Group, Inc. (NYSE:KNSL) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 2,396,049 shares, a growth of 38.7% from the February 12th total of 1,727,259 shares. Based on an average daily trading volume, of 308,327 shares, the short-interest ratio is presently 7.8 days. Currently, 11.0% of the shares of the company are sold short. Currently, 11.0% of the shares of the company are sold short. Based on an average daily trading volume, of 308,327 shares, the short-interest ratio is presently 7.8 days.

Institutional Trading of Kinsale Capital Group

A number of hedge funds have recently made changes to their positions in KNSL. V Square Quantitative Management LLC bought a new position in Kinsale Capital Group in the fourth quarter valued at $25,000. Bayban purchased a new position in shares of Kinsale Capital Group in the 4th quarter worth about $25,000. eCIO Inc. bought a new position in shares of Kinsale Capital Group during the 4th quarter valued at about $29,000. International Assets Investment Management LLC purchased a new position in shares of Kinsale Capital Group during the 4th quarter valued at about $29,000. Finally, Johnson Financial Group Inc. lifted its position in Kinsale Capital Group by 257.1% in 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 owned by institutional investors.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock traded up $0.90 during trading on Friday, hitting $362.76. The stock had a trading volume of 127,067 shares, compared to its average volume of 271,734. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 12 month low of $341.06 and a 12 month high of $512.76. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.50 and a beta of 1.01. The business’s 50-day moving average is $389.19 and its 200 day moving average is $406.23.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.51. The company had revenue of $483.27 million during the quarter, compared to analyst estimates of $467.66 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.During the same quarter last year, the company earned $4.62 earnings per share. As a group, sell-side analysts anticipate that Kinsale Capital Group will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

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

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on KNSL shares. Wall Street Zen downgraded Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. JPMorgan Chase & Co. cut their target price on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $433.00 target price on shares of Kinsale Capital Group in a report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus target price of $441.91.

About Kinsale Capital Group

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.