Kinsale Capital Group, Inc. (NYSE:KNSL) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL) have been given a consensus recommendation of “Reduce” by the eleven research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $374.90.

KNSL has been the topic of a number of recent analyst reports. Truist Financial cut their target price on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Cantor Fitzgerald cut their target price on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Jefferies Financial Group lowered Kinsale Capital Group from a “hold” rating to an “underperform” rating and cut their target price for the company from $392.00 to $312.00 in a research report on Thursday, March 19th. Weiss Ratings lowered Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada cut their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $327.79 on Monday. The stock’s 50 day moving average price is $315.58 and its 200 day moving average price is $356.09. The firm has a market capitalization of $7.56 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. Kinsale Capital Group has a one year low of $287.20 and a one year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The company had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same period in the prior year, the company posted $3.71 EPS. Kinsale Capital Group’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts expect that Kinsale Capital Group will post 20.65 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is presently 4.40%.

Insider Buying and Selling at Kinsale Capital Group

In related news, insider Salmaan K. Allibhai sold 250 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the sale, the insider directly owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kinsale Capital Group

Institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Kinsale Capital Group during the 4th quarter valued at approximately $25,000. Bayban acquired a new stake in shares of Kinsale Capital Group during the 4th quarter valued at approximately $25,000. eCIO Inc. acquired a new stake in shares of Kinsale Capital Group during the 4th quarter valued at approximately $29,000. International Assets Investment Management LLC acquired a new stake in shares of Kinsale Capital Group during the 4th quarter valued at approximately $29,000. Finally, Johnson Financial Group Inc. raised its position in shares of Kinsale Capital Group by 257.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 54 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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.