Kinsale Capital Group Inc (NASDAQ:KNSL) Receives Average Recommendation of “Buy” from Analysts

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Shares of Kinsale Capital Group Inc (NASDAQ:KNSL) have been given a consensus recommendation of “Buy” by the seven ratings firms that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $96.00.

A number of brokerages have commented on KNSL. Royal Bank of Canada lifted their price objective on shares of Kinsale Capital Group from $70.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. ValuEngine cut shares of Kinsale Capital Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Kinsale Capital Group from a “hold” rating to a “strong-buy” rating and set a $104.00 price objective for the company in a research note on Tuesday, August 6th. SunTrust Banks lifted their price objective on shares of Kinsale Capital Group from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Kinsale Capital Group from a “strong-buy” rating to a “buy” rating in a research note on Friday.

In other news, CFO Bryan P. Petrucelli sold 815 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $87.36, for a total value of $71,198.40. Following the completion of the sale, the chief financial officer now owns 59,863 shares in the company, valued at approximately $5,229,631.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederick L. Jr. Russell sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.53, for a total transaction of $289,590.00. Following the completion of the sale, the director now owns 1,170 shares of the company’s stock, valued at approximately $112,940.10. The disclosure for this sale can be found here. Insiders sold a total of 14,315 shares of company stock valued at $1,313,626 over the last three months. Corporate insiders own 8.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. lifted its holdings in Kinsale Capital Group by 2,241.7% during the 2nd quarter. Advisor Group Inc. now owns 281 shares of the financial services provider’s stock valued at $25,000 after buying an additional 269 shares in the last quarter. Alpha Omega Wealth Management LLC lifted its holdings in Kinsale Capital Group by 147.5% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 495 shares of the financial services provider’s stock valued at $34,000 after buying an additional 295 shares in the last quarter. Quadrant Capital Group LLC bought a new stake in Kinsale Capital Group during the 1st quarter valued at about $45,000. Quantamental Technologies LLC lifted its holdings in Kinsale Capital Group by 37.7% during the 2nd quarter. Quantamental Technologies LLC now owns 1,085 shares of the financial services provider’s stock valued at $99,000 after buying an additional 297 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Kinsale Capital Group during the 2nd quarter valued at about $169,000. Institutional investors own 80.90% of the company’s stock.

Shares of NASDAQ:KNSL opened at $93.21 on Tuesday. Kinsale Capital Group has a 52 week low of $50.34 and a 52 week high of $99.70. The stock has a market capitalization of $2.04 billion, a P/E ratio of 44.29 and a beta of 0.53. The firm has a fifty day simple moving average of $93.28 and a two-hundred day simple moving average of $79.48.

Kinsale Capital Group (NASDAQ:KNSL) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Kinsale Capital Group had a net margin of 18.67% and a return on equity of 16.78%. The business had revenue of $72.57 million during the quarter, compared to analysts’ expectations of $69.49 million. On average, equities research analysts forecast that Kinsale Capital Group will post 2.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.34%. Kinsale Capital Group’s payout ratio is currently 17.88%.

About Kinsale Capital Group

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 and general casualty, life sciences, allied health, health care, commercial property, environmental, public entity, inland marine, and commercial insurance, as well as product, professional, and management liability insurance; and homeowners insurance.

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