Kinsale Capital Group (NYSE:KNSL) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Kinsale Capital Group (NYSE:KNSL) from a sell rating to a hold rating in a report issued on Saturday.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Truist Financial dropped their target price on shares of Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Weiss Ratings restated a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Friday, March 27th. Wells Fargo & Company began coverage on shares of Kinsale Capital Group in a research report on Thursday, January 15th. They set an “overweight” rating and a $490.00 price target on the stock. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $430.91.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $345.25 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a fifty-two week low of $321.97 and a fifty-two week high of $512.76. The business has a 50 day moving average price of $370.80 and a two-hundred day moving average price of $394.60. The firm has a market cap of $7.99 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.13 and a beta of 1.08.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.30 by $0.51. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.The company had revenue of $483.27 million for the quarter, compared to analyst estimates of $467.66 million. During the same period in the prior year, the company posted $4.62 EPS. Sell-side analysts expect that Kinsale Capital Group will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed 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 of this dividend was Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s payout ratio is currently 4.61%.

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

Hedge Funds Weigh In On Kinsale Capital Group

Large investors have recently bought and sold shares of the business. Epoch Investment Partners Inc. grew its holdings 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 purchasing an additional 23 shares during the last quarter. Vident Advisory LLC boosted its position in Kinsale Capital Group by 2.9% during the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 23 shares during the period. Kingswood Wealth Advisors LLC boosted its position in Kinsale Capital Group by 3.3% during the 4th 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 period. Smartleaf Asset Management LLC grew its stake in Kinsale Capital Group by 20.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock worth $77,000 after buying an additional 28 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Kinsale Capital Group by 39.0% during the 4th quarter. Signaturefd LLC now owns 107 shares of the financial services provider’s stock worth $42,000 after buying an additional 30 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

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.