Kinsale Capital Group (NYSE:KNSL) Hits New 52-Week Low – Should You Sell?

Kinsale Capital Group, Inc. (NYSE:KNSL)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $382.45 and last traded at $383.42, with a volume of 18451 shares. The stock had previously closed at $394.93.

Analyst Ratings Changes

KNSL has been the subject of a number of analyst reports. TD Cowen cut their price target on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Cantor Fitzgerald raised shares of Kinsale Capital Group to a “hold” rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. cut their target price on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Truist Financial raised their price objective on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Kinsale Capital Group in a research note on Thursday, November 13th. Three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $493.22.

Kinsale Capital Group Stock Down 3.0%

The business’s fifty day simple moving average is $427.34 and its 200 day simple moving average is $451.01. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 1.46 and a beta of 1.09.

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

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Friday, November 28th will be given a $0.17 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. Kinsale Capital Group’s dividend payout ratio is currently 3.34%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC bought a new stake in shares of Kinsale Capital Group in the first quarter worth about $31,000. V Square Quantitative Management LLC bought a new position in shares of Kinsale Capital Group during the 2nd quarter valued at about $31,000. Johnson Financial Group Inc. grew its position in shares of Kinsale Capital Group by 257.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 54 shares during the period. Root Financial Partners LLC acquired a new position in shares of Kinsale Capital Group in the 3rd quarter valued at approximately $33,000. Finally, Larson Financial Group LLC increased its stake in Kinsale Capital Group by 225.0% during the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 54 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

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.