Kinsale Capital Group (NYSE:KNSL) Stock Gets Price Target Cut from Wells Fargo & Company

Kinsale Capital Group (NYSE:KNSL) had its price objective reduced by Wells Fargo & Company from $377.00 to $348.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Kinsale Capital Group from $390.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, October 9th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Cantor Fitzgerald raised their price objective on shares of Kinsale Capital Group from $259.00 to $264.00 and gave the company a “neutral” rating in a research report on Wednesday, October 7th. Finally, Weiss Ratings raised shares of Kinsale Capital Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $357.67.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $348.70 on Monday. The stock’s 50 day moving average price is $360.34 and its two-hundred day moving average price is $340.82. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.07 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group has a 52-week low of $287.20 and a 52-week high of $473.14.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.43. The company had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. Kinsale Capital Group’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.78 EPS. On average, equities analysts predict that Kinsale Capital Group will post 21.17 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 28th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, August 28th. Kinsale Capital Group’s dividend payout ratio is presently 4.05%.

Hedge Funds Weigh In On Kinsale Capital Group

A number of institutional investors have recently added to or reduced their stakes in the company. Bamco Inc. NY bought a new position in shares of Kinsale Capital Group in the second quarter worth approximately $878,600,000. BlackRock Inc. bought a new stake in shares of Kinsale Capital Group during the second quarter valued at approximately $671,457,000. First Manhattan CO. LLC. increased its position in shares of Kinsale Capital Group by 19.6% during the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock valued at $240,401,000 after acquiring an additional 100,600 shares in the last quarter. Turtle Creek Asset Management Inc. increased its position in shares of Kinsale Capital Group by 47.6% during the first quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock valued at $140,506,000 after acquiring an additional 132,576 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Kinsale Capital Group by 5.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 299,832 shares of the financial services provider’s stock worth $102,435,000 after acquiring an additional 14,178 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

About Kinsale Capital Group

Kinsale Capital Group, Inc is a specialty insurance company headquartered in Richmond, Virginia. Through its insurance subsidiaries, including Kinsale Insurance Company, the company provides commercial property and casualty insurance in the United States.

Kinsale focuses primarily on the excess and surplus lines market, which serves businesses with risks that may not be accommodated by standard insurance carriers. Its offerings include coverage for commercial property, general liability, professional liability, commercial auto, and other specialized risks.