Zacks Investment Research upgraded shares of Kinsale Capital Group (NASDAQ:KNSL) from a hold rating to a buy rating in a report released on Friday morning. Zacks Investment Research currently has $59.00 price objective on the financial services provider’s stock.
According to Zacks, “Kinsale Capital Group, Inc. is a specialty insurance company. Its commercial lines offerings include construction, small business, professional liability, excess casualty, energy, general casualty, life sciences, allied health, product liability, healthcare, commercial property, management liability, inland marine, environmental, public entity and commercial insurance. The Company also writes homeowners insurance in the personal lines market. Kinsale Capital Group, Inc. is based in Richmond, Virginia. “
Other equities analysts have also recently issued reports about the stock. BidaskClub raised shares of Kinsale Capital Group from a hold rating to a buy rating in a research note on Tuesday, February 13th. William Blair reissued a hold rating on shares of Kinsale Capital Group in a research note on Friday, February 2nd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Kinsale Capital Group has a consensus rating of Buy and an average price target of $50.00.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Tuesday, February 27th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.06. Kinsale Capital Group’s dividend payout ratio (DPR) is 24.14%.
In other news, SVP William J. Jr. Kenney sold 13,750 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $51.79, for a total value of $712,112.50. Following the completion of the sale, the senior vice president now owns 18,286 shares in the company, valued at approximately $947,031.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.20% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Kinsale Capital Group by 678.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,826 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 2,463 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Kinsale Capital Group by 60.6% in the 4th quarter. US Bancorp DE now owns 3,106 shares of the financial services provider’s stock worth $140,000 after acquiring an additional 1,172 shares during the last quarter. Aperio Group LLC bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $234,000. Suntrust Banks Inc. bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $254,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $293,000. Hedge funds and other institutional investors own 83.02% of the company’s stock.
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Kinsale Capital Group Company Profile
Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.
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