Kinsale Capital Group (NYSE:KNSL) Board Initiates Stock Repurchase Program

Kinsale Capital Group (NYSE:KNSL) declared that its board has approved a stock repurchase program on Thursday, December 11th, RTT News reports. The company plans to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

KNSL has been the topic of several research reports. TD Cowen dropped their price objective on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Royal Bank Of Canada assumed coverage on Kinsale Capital Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price target on the stock. Wall Street Zen downgraded Kinsale Capital Group from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Morgan Stanley lowered their target price on shares of Kinsale Capital Group from $490.00 to $480.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 8th. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $483.78.

Kinsale Capital Group Stock Up 0.7%

Shares of NYSE:KNSL opened at $390.91 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $9.09 billion, a P/E ratio of 19.20, a P/E/G ratio of 1.40 and a beta of 0.96. Kinsale Capital Group has a 52-week low of $349.00 and a 52-week high of $512.76. The stock’s fifty day simple moving average is $408.53 and its 200-day simple moving average is $440.58.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share for the quarter, beating the consensus estimate of $4.79 by $0.42. Kinsale Capital Group had a return on equity of 25.66% and a net margin of 26.30%.The company had revenue of $497.51 million during the quarter, compared to the consensus estimate of $446.00 million. During the same period in the previous year, the firm posted $4.20 EPS. Kinsale Capital Group’s revenue was up 19.0% on a year-over-year basis. As a group, equities research analysts forecast that Kinsale Capital Group will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Friday, November 28th were given a dividend of $0.17 per share. The ex-dividend date was Friday, November 28th. This represents a $0.68 annualized dividend and a yield of 0.2%. Kinsale Capital Group’s dividend payout ratio is 3.34%.

About Kinsale Capital Group

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company’s commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.