Kinsale Capital Group, Inc. (NYSE:KNSL) Stock Now Rated “Reduce” by Wall Street Brokerages

Kinsale Capital Group, Inc. (NYSE:KNSL) has earned an average rating of “Reduce” from the ten analysts that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $368.78.

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Morgan Stanley lifted their price target on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. TD Cowen reissued a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, Weiss Ratings upgraded shares of Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th.

Kinsale Capital Group Stock Up 0.2%

Shares of NYSE KNSL opened at $330.37 on Wednesday. Kinsale Capital Group has a 12-month low of $287.20 and a 12-month high of $485.00. The company has a market capitalization of $7.53 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The firm’s 50-day moving average is $364.55 and its two-hundred day moving average is $340.61.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, beating the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. During the same period in the prior year, the business earned $4.78 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts anticipate that Kinsale Capital Group will post 21.1 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

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

Institutional Investors Weigh In On Kinsale Capital Group

Hedge funds have recently modified their holdings of the stock. Fifth Third Wealth Advisors LLC raised its stake in shares of Kinsale Capital Group by 4.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 793 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 37 shares during the period. Strategic Advisors LLC boosted its stake in shares of Kinsale Capital Group by 0.4% in the fourth quarter. Strategic Advisors LLC now owns 8,553 shares of the financial services provider’s stock valued at $3,346,000 after purchasing an additional 38 shares during the period. Florida Financial Advisors LLC grew its holdings in Kinsale Capital Group by 8.8% during the 4th quarter. Florida Financial Advisors LLC now owns 579 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 47 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Kinsale Capital Group by 3.6% during the 1st quarter. Sanctuary Advisors LLC now owns 1,361 shares of the financial services provider’s stock worth $465,000 after buying an additional 47 shares during the period. Finally, Procyon Advisors LLC lifted its holdings in Kinsale Capital Group by 9.3% in the 1st quarter. Procyon Advisors LLC now owns 610 shares of the financial services provider’s stock worth $208,000 after buying an additional 52 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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.