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

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

Analysts Set New Price Targets

KNSL has been the subject of several research analyst reports. BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 target price for the company. in a research note on Wednesday, February 25th. Wells Fargo & Company began coverage on shares of Kinsale Capital Group in a research note on Thursday, January 15th. They issued an “overweight” rating and a $490.00 price target on the stock. Truist Financial decreased their price target on shares of Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. JPMorgan Chase & Co. dropped their price objective on shares of 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, Wall Street Zen lowered shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $430.91.

Kinsale Capital Group Trading 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 firm has a market cap of $7.50 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.07 and a beta of 1.01. The business has a fifty day simple moving average of $381.10 and a 200-day simple moving average of $399.77.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, beating analysts’ consensus estimates of $5.30 by $0.51. The firm had revenue of $483.27 million for 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 period last year, the firm posted $4.62 earnings per share. As a group, equities 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 firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 26th. This represents a $1.00 annualized dividend and a yield of 0.3%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s dividend payout ratio is 4.61%.

Kinsale Capital Group announced that its board has authorized a share buyback program on Thursday, December 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Kinsale Capital Group

Several large investors have recently modified their holdings of the business. AQR Capital Management LLC grew its stake in shares of Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 361 shares during the last quarter. Prudential PLC acquired a new position in Kinsale Capital Group during the 2nd quarter worth about $294,000. Legal & General Group Plc lifted its holdings in Kinsale Capital Group by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 36,445 shares of the financial services provider’s stock worth $17,636,000 after buying an additional 902 shares during the period. Franklin Resources Inc. grew its position in shares of Kinsale Capital Group by 25.3% in the 2nd quarter. Franklin Resources Inc. now owns 145,792 shares of the financial services provider’s stock valued at $70,549,000 after buying an additional 29,482 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Kinsale Capital Group by 22.8% in the 2nd quarter. American Century Companies Inc. now owns 168,493 shares of the financial services provider’s stock valued at $81,537,000 after buying an additional 31,250 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

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.