Kinsale Capital Group (NYSE:KNSL) Price Target Cut to $390.00

Kinsale Capital Group (NYSE:KNSL) had its price objective decreased by Compass Point from $490.00 to $390.00 in a research note released on Monday morning, Benzinga reports. Compass Point currently has a neutral rating on the financial services provider’s stock.

KNSL has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their target price on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a neutral rating in a report on Monday, February 26th. BMO Capital Markets downgraded Kinsale Capital Group from an outperform rating to a market perform rating and lifted their price target for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. Truist Financial lowered their price target on Kinsale Capital Group from $600.00 to $440.00 and set a buy rating on the stock in a report on Monday. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $425.00 price target (down previously from $555.00) on shares of Kinsale Capital Group in a report on Monday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $438.43.

Kinsale Capital Group Trading Up 4.2 %

Shares of NYSE KNSL opened at $378.61 on Monday. The company has a market cap of $8.78 billion, a price-to-earnings ratio of 25.16 and a beta of 0.89. Kinsale Capital Group has a 12-month low of $297.33 and a 12-month high of $548.47. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $483.69 and its 200 day simple moving average is $414.21.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.17. The firm had revenue of $372.79 million for the quarter, compared to the consensus estimate of $366.45 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The firm’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 EPS. Equities research analysts expect that Kinsale Capital Group will post 15.27 EPS for the current year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.16%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, February 26th. Kinsale Capital Group’s payout ratio is currently 3.99%.

Insider Activity at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the transaction, the chief executive officer now directly owns 303,972 shares in the company, valued at $159,199,255.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Frederick L. Jr. Russell sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total value of $1,048,180.00. Following the sale, the director now directly owns 887 shares in the company, valued at approximately $464,867.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The disclosure for this sale can be found here. Insiders have sold 9,778 shares of company stock worth $4,532,422 over the last three months. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

Several large investors have recently modified their holdings of the stock. CWM LLC grew its stake in shares of Kinsale Capital Group by 9.6% in the 3rd quarter. CWM LLC now owns 286 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 25 shares during the period. Rise Advisors LLC grew its stake in shares of Kinsale Capital Group by 17.5% in the 1st quarter. Rise Advisors LLC now owns 181 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 27 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Kinsale Capital Group by 1.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 1,554 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 29 shares during the period. Pearl River Capital LLC boosted its holdings in shares of Kinsale Capital Group by 5.2% in the 3rd quarter. Pearl River Capital LLC now owns 604 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 30 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. boosted its holdings in shares of Kinsale Capital Group by 1.1% in the 4th quarter. Blackhawk Capital Partners LLC. now owns 2,655 shares of the financial services provider’s stock worth $889,000 after acquiring an additional 30 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Company Profile

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.