Analysts Set Kinsale Capital Group, Inc. (NYSE:KNSL) Price Target at $476.60

Kinsale Capital Group, Inc. (NYSE:KNSL) has received a consensus rating of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $476.60.

A number of brokerages have recently commented on KNSL. Royal Bank Of Canada initiated coverage on shares of Kinsale Capital Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of Kinsale Capital Group in a research report on Thursday, January 15th. They issued an “overweight” rating and a $490.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 29th. TD Cowen lowered their price target on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Finally, Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, December 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Kinsale Capital Group in the 2nd quarter worth approximately $125,812,000. Orion Porfolio Solutions LLC boosted its holdings in Kinsale Capital Group by 1,141.4% in the second quarter. Orion Porfolio Solutions LLC now owns 81,724 shares of the financial services provider’s stock valued at $39,546,000 after acquiring an additional 75,141 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in Kinsale Capital Group during the 2nd quarter valued at $32,034,000. Westfield Capital Management Co. LP raised its holdings in Kinsale Capital Group by 127.4% in the 2nd quarter. Westfield Capital Management Co. LP now owns 117,394 shares of the financial services provider’s stock worth $56,807,000 after purchasing an additional 65,770 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its holdings in Kinsale Capital Group by 7,444.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock worth $16,041,000 after purchasing an additional 37,221 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Down 3.9%

Shares of NYSE KNSL opened at $386.66 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average of $389.16 and a 200-day moving average of $422.96. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 1.42 and a beta of 1.00. Kinsale Capital Group has a 12 month low of $349.00 and a 12 month high of $512.76.

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

Kinsale Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Friday, November 28th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, November 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.34%.

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.