Kinsale Capital Group, Inc. (NYSE:KNSL) Given Average Rating of “Hold” by Brokerages

Kinsale Capital Group, Inc. (NYSE:KNSL) has earned a consensus rating of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $472.6364.

KNSL has been the topic of several recent research reports. Wells Fargo & Company began coverage on shares of Kinsale Capital Group in a report on Thursday, January 15th. They set an “overweight” rating and a $490.00 price objective on the stock. Cantor Fitzgerald lowered their price target on shares of Kinsale Capital Group from $470.00 to $422.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. JPMorgan Chase & Co. dropped their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $371.15 on Tuesday. The company has a market capitalization of $8.63 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.31 and a beta of 0.99. The business has a fifty day simple moving average of $394.96 and a two-hundred day simple moving average of $415.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.08 and a quick ratio of 0.09. Kinsale Capital Group has a 1 year low of $341.06 and a 1 year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, topping the consensus estimate of $5.30 by $0.51. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.The company had revenue of $483.27 million during the quarter, compared to the consensus estimate of $467.66 million. During the same quarter in the prior year, the company earned $4.62 EPS. On average, analysts expect that Kinsale Capital Group will post 17.72 earnings per share for the current year.

Kinsale Capital Group announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be given a dividend of $0.25 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.14%.

Institutional Trading of Kinsale Capital Group

Institutional investors and hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter worth $25,000. eCIO Inc. purchased a new position in Kinsale Capital Group during the fourth quarter worth about $29,000. International Assets Investment Management LLC purchased a new position in Kinsale Capital Group during the fourth quarter worth about $29,000. Johnson Financial Group Inc. increased its stake in 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 worth $32,000 after acquiring an additional 54 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in Kinsale Capital Group in the 3rd quarter worth about $33,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

About Kinsale Capital Group

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.