Kinsale Capital Group, Inc. (NYSE:KNSL) Given Consensus Recommendation of “Hold” by Brokerages

Kinsale Capital Group, Inc. (NYSE:KNSL) has been assigned an average recommendation of “Hold” from the twelve brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $441.9091.

Several research firms have recently issued reports on KNSL. JPMorgan Chase & Co. lowered their price objective on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Royal Bank Of Canada began coverage on Kinsale Capital Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. Wells Fargo & Company began coverage on shares of Kinsale Capital Group in a report on Thursday, January 15th. They set an “overweight” rating and a $490.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. grew its stake in shares of Kinsale Capital Group by 1.1% during the second quarter. Epoch Investment Partners Inc. now owns 2,174 shares of the financial services provider’s stock valued at $1,052,000 after acquiring an additional 23 shares in the last quarter. Vident Advisory LLC increased its position in shares of Kinsale Capital Group by 2.9% during the second quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock worth $399,000 after acquiring an additional 23 shares during the last quarter. Portside Wealth Group LLC lifted its stake in shares of Kinsale Capital Group by 1.4% in the second quarter. Portside Wealth Group LLC now owns 1,860 shares of the financial services provider’s stock worth $900,000 after acquiring an additional 25 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Kinsale Capital Group by 20.9% in the second quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 28 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its holdings in Kinsale Capital Group by 3.3% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 867 shares of the financial services provider’s stock valued at $339,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $362.76 on Friday. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.50 and a beta of 1.01. The firm’s fifty day simple moving average is $389.19 and its 200-day simple moving average is $406.23. Kinsale Capital Group has a twelve month low of $341.06 and a twelve month high of $512.76. 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 (NYSE:KNSL) last issued its earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, topping analysts’ consensus estimates of $5.30 by $0.51. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. The firm had revenue of $483.27 million during the quarter, compared to the consensus estimate of $467.66 million. During the same quarter in the previous year, the firm posted $4.62 earnings per share. Equities analysts forecast that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio is presently 4.61%.

Kinsale Capital Group announced that its board has authorized a stock buyback plan on Thursday, December 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.