Kinsale Capital Group, Inc. (NYSE:KNSL) Receives Average Rating of “Reduce” from Brokerages

Kinsale Capital Group, Inc. (NYSE:KNSL) has been assigned an average recommendation of “Reduce” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $368.7778.

KNSL has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Morgan Stanley increased their target price on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings upgraded shares of Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $372.86 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group has a 1-year low of $287.20 and a 1-year high of $485.00. The business’s fifty day moving average price is $361.07 and its two-hundred day moving average price is $344.36. The firm has a market capitalization of $8.49 billion, a PE ratio of 15.11, a P/E/G ratio of 1.21 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The firm had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. During the same period in the previous year, the business posted $4.78 EPS. Kinsale Capital Group’s revenue was up 16.8% on a year-over-year basis. On average, research analysts expect that Kinsale Capital Group will post 21.1 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be issued a $0.25 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is 4.05%.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, CAO Christopher Tangard purchased 330 shares of the company’s stock in a transaction on Monday, June 8th. The shares were purchased at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the chief accounting officer owned 380 shares in the company, valued at $115,520. The trade was a 660.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is currently owned by insiders.

Institutional Trading of Kinsale Capital Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its holdings in shares of Kinsale Capital Group by 32,446.1% in the second quarter. California State Teachers Retirement System now owns 8,367,610 shares of the financial services provider’s stock valued at $2,759,721,000 after buying an additional 8,341,900 shares in the last quarter. Bamco Inc. NY acquired a new position in shares of Kinsale Capital Group in the 2nd quarter worth $878,600,000. BlackRock Inc. acquired a new stake in shares of Kinsale Capital Group during the second quarter worth $671,457,000. Life Cycle Investment Partners Ltd acquired a new stake in shares of Kinsale Capital Group during the fourth quarter worth $229,653,000. Finally, Capital World Investors lifted its holdings in shares of Kinsale Capital Group by 117.4% during the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after purchasing an additional 533,499 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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.