Zacks Investment Research cut shares of Kinsale Capital Group (NASDAQ:KNSL) from a buy rating to a hold rating in a report issued on Thursday morning.
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. “
Several other brokerages have also recently commented on KNSL. BidaskClub upgraded Kinsale Capital Group from a hold rating to a buy rating in a report on Tuesday, February 13th. William Blair reiterated a hold rating on shares of Kinsale Capital Group in a report on Friday, February 2nd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Kinsale Capital Group presently has an average rating of Buy and a consensus price target of $49.67.
Kinsale Capital Group (NASDAQ:KNSL) last announced its earnings results on Monday, February 26th. The financial services provider reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.03). Kinsale Capital Group had a net margin of 13.33% and a return on equity of 11.76%. The company had revenue of $50.74 million during the quarter, compared to the consensus estimate of $49.23 million. research analysts anticipate that Kinsale Capital Group will post 2.02 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were issued a $0.07 dividend. The ex-dividend date was Tuesday, February 27th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.56%. Kinsale Capital Group’s dividend payout ratio is presently 22.40%.
In related news, SVP William J. Jr. Kenney sold 13,750 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $51.79, for a total value of $712,112.50. Following the sale, the senior vice president now directly owns 18,286 shares in the company, valued at $947,031.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in KNSL. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Kinsale Capital Group by 678.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,826 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 2,463 shares during the last quarter. US Bancorp DE lifted its stake in Kinsale Capital Group by 60.6% in the fourth quarter. US Bancorp DE now owns 3,106 shares of the financial services provider’s stock valued at $140,000 after buying an additional 1,172 shares during the period. Aperio Group LLC acquired a new position in Kinsale Capital Group in the fourth quarter valued at approximately $234,000. Suntrust Banks Inc. acquired a new position in Kinsale Capital Group in the fourth quarter valued at approximately $254,000. Finally, Teacher Retirement System of Texas acquired a new position in Kinsale Capital Group in the fourth quarter valued at approximately $293,000. Institutional investors and hedge funds own 83.02% of the company’s stock.
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Kinsale Capital Group Company Profile
Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess casualty, general casualty, product liability, professional liability, life sciences, allied health, health care, commercial property, management liability, environmental, public entity, inland marine, and commercial insurance, as well as homeowners insurance.
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