Kinsale Capital Group (NYSE:KNSL) Shares Down 5.1% – What’s Next?

Kinsale Capital Group, Inc. (NYSE:KNSL)’s stock price dropped 5.1% during trading on Monday . The company traded as low as $394.74 and last traded at $392.7950. Approximately 62,575 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 203,418 shares. The stock had previously closed at $414.10.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KNSL. TD Cowen decreased their price objective on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Cantor Fitzgerald cut their target price on shares of Kinsale Capital Group from $470.00 to $422.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Royal Bank Of Canada began coverage on Kinsale Capital Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price target on the stock. Finally, Wells Fargo & Company began coverage on Kinsale Capital Group in a research report on Thursday, January 15th. They set an “overweight” rating and a $490.00 price objective for the company. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $476.60.

Kinsale Capital Group Price Performance

The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average price is $392.44 and its 200 day moving average price is $417.71. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, February 26th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s dividend payout ratio is currently 3.34%.

Kinsale Capital Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Cresset Asset Management LLC boosted its position in shares of Kinsale Capital Group by 145.3% during the 2nd quarter. Cresset Asset Management LLC now owns 5,667 shares of the financial services provider’s stock worth $2,743,000 after acquiring an additional 3,357 shares in the last quarter. Ascent Group LLC lifted its stake in Kinsale Capital Group by 26.4% during the third quarter. Ascent Group LLC now owns 16,148 shares of the financial services provider’s stock worth $6,867,000 after purchasing an additional 3,375 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kinsale Capital Group by 2.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 164,618 shares of the financial services provider’s stock valued at $79,659,000 after purchasing an additional 3,448 shares in the last quarter. Riverbridge Partners LLC increased its stake in shares of Kinsale Capital Group by 11.1% in the 3rd quarter. Riverbridge Partners LLC now owns 290,524 shares of the financial services provider’s stock valued at $123,548,000 after purchasing an additional 29,053 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Kinsale Capital Group by 492.8% during the 3rd quarter. SG Americas Securities LLC now owns 14,404 shares of the financial services provider’s stock worth $6,125,000 after buying an additional 11,974 shares in 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.