Kinsale Capital Group (NYSE:KNSL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Kinsale Capital Group (NYSE:KNSL) had its price objective increased by JPMorgan Chase & Co. from $440.00 to $460.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other equities research analysts also recently commented on the company. Bank of America began coverage on Kinsale Capital Group in a report on Friday, June 20th. They issued a “buy” rating and a $543.00 price objective for the company. Truist Financial upped their price objective on Kinsale Capital Group from $500.00 to $560.00 and gave the company a “buy” rating in a report on Monday. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, June 22nd. Finally, Morgan Stanley upped their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Kinsale Capital Group currently has a consensus rating of “Hold” and an average price target of $506.44.

Kinsale Capital Group Trading Down 1.5%

Shares of KNSL opened at $443.51 on Monday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 12-month low of $405.00 and a 12-month high of $531.79. The firm has a market capitalization of $10.34 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The stock’s fifty day simple moving average is $473.13 and its 200-day simple moving average is $462.10.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.41 by $0.37. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%. The business had revenue of $458.70 million for the quarter, compared to analyst estimates of $436.25 million. During the same quarter in the prior year, the firm posted $3.75 earnings per share. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, research analysts predict that Kinsale Capital Group will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were issued a $0.17 dividend. The ex-dividend date was Thursday, May 29th. This represents a dividend yield of 0.15%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.55%.

Insider Activity

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the completion of the sale, the executive vice president directly owned 6,646 shares in the company, valued at $3,136,912. This represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kinsale Capital Group

Large investors have recently modified their holdings of the business. LPL Financial LLC grew its holdings in shares of Kinsale Capital Group by 29.4% during the fourth quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider’s stock worth $9,310,000 after buying an additional 4,644 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Kinsale Capital Group by 6.0% during the fourth quarter. JPMorgan Chase & Co. now owns 329,595 shares of the financial services provider’s stock worth $153,305,000 after buying an additional 18,661 shares in the last quarter. Norges Bank bought a new position in shares of Kinsale Capital Group during the fourth quarter worth about $89,200,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Kinsale Capital Group by 169.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,563 shares of the financial services provider’s stock worth $727,000 after buying an additional 984 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Kinsale Capital Group by 4.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,017 shares of the financial services provider’s stock worth $1,403,000 after buying an additional 132 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.