Kinsale Capital Group (NYSE:KNSL) Price Target Raised to $264.00

Kinsale Capital Group (NYSE:KNSL) had its price target upped by Cantor Fitzgerald from $259.00 to $264.00 in a research note published on Wednesday, MarketBeat.com reports. They currently have a neutral rating on the financial services provider’s stock.

KNSL has been the subject of several other reports. Morgan Stanley reduced their target price on Kinsale Capital Group from $390.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday. Wells Fargo & Company increased their price target on Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. JPMorgan Chase & Co. lifted their price objective on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $360.89.

Kinsale Capital Group Stock Down 0.8%

Shares of KNSL stock opened at $337.09 on Wednesday. Kinsale Capital Group has a 52-week low of $287.20 and a 52-week high of $478.71. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.07 and a beta of 0.88. The firm’s 50-day moving average is $361.64 and its 200-day moving average is $340.44. 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 (NYSE:KNSL) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. The business had revenue of $548.52 million during the quarter, compared to analysts’ expectations of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%. Kinsale Capital Group’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company posted $4.78 earnings per share. Sell-side analysts predict that Kinsale Capital Group will post 21.14 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 28th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, August 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.05%.

Institutional Trading of Kinsale Capital Group

A number of institutional investors have recently modified their holdings of KNSL. Bayban acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth $25,000. Parallel Advisors LLC raised its stake in Kinsale Capital Group by 185.7% in the first quarter. Parallel Advisors LLC now owns 120 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 78 shares in the last quarter. Western Wealth Management LLC acquired a new position in Kinsale Capital Group in the first quarter valued at about $60,000. Flputnam Investment Management Co. bought a new stake in Kinsale Capital Group during the second quarter worth about $101,000. Finally, Commonwealth Retirement Investments LLC bought a new stake in Kinsale Capital Group during the fourth quarter worth about $109,000. 85.36% of the stock is currently owned by institutional investors.

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.